Q:I will be furloughed on or about June 12th. Will the government's 65% of my payment be deferred from the amount I have to pay to continue my coverage or will I have to pay the full amount monthly & will receive some type of repayment at later date? Also, is there anything I need to do in order to get the Federal aid or does it automatically happen when I am left go from work?
A:When you are terminated from your position, your employer should supply you with Cobra information and how to apply.They by law have 45 days to send you that packet, in the packet it should tell you if your premium is subject to the reduction in cost.There are requirements you have to meet to have your Cobra coverage subject to the reduction such as involuntarily terminated and if you are not eligible for health coverage from a new position or a spouse.My recommendation to you is to talk with your employer to find out any information you need in regards to enrolling with Cobra and if you qualify for the reduced premium.
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