Would you like to...

Print this page

Email this page

Post a comment

Subscribe me

Add to favorites

User Opinions (0 votes)

No users have voted.

---

How would you rate this answer?

Helpful

Not helpful Help us improve. Why was this unhelpful?

Thank you for rating this answer.

Q:  I was not rehired for a teaching position in my county. The reason, false and set up, was because of my performance. They said I had two choices, one, my file will be open for public sight or resign for confidentiality. I chose confidentiality and resigned later to find that a breach of confidentiality occurred. Can I qualify for the stimulus pkg because the initial document did not renew my contract? My resignation was only to protect my reputation which was questioned with the breach.

A:  The American Recovery and Reinvestment Act of 2009 (also know as the federal stimulus package) provides for premium reductions and additional election opportunities for health benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985, commonly called COBRA. Eligible individuals pay only 35 percent of their COBRA premiums and the remaining 65 percent is reimbursed to the coverage provider through a tax credit. The premium reduction applies to periods of health coverage beginning on or after February 17, 2009 and lasts for up to nine months.

The premium reduction for COBRA continuation coverage is available to "assistance eligible individuals".

An "assistance eligible individual" is the employee or a member of his/her family who:

·          is eligible for COBRA continuation coverage at any time between September 1, 2008 and December 31, 2009;

·          elects COBRA coverage; and

·          is eligible for COBRA as a result of the employee's involuntary termination between September 1, 2008 and December 31, 2009.

Those who are eligible for other group health coverage (such as a spouse's plan) or Medicare are not eligible for the premium reduction. There is no premium reduction for premiums paid for periods of coverage prior to February 17, 2009.

If an individual’s modified adjusted gross income for the tax year in which the premium assistance is received exceeds $125,000 (or $250,000 for joint filers), then the amount of the premium reduction during the tax year must be repaid.

We are a provider of Cobra information and Alternative Solutions.   We are not affiliated with Cobra.  If you would like a free quote on what we have to offer feel free to CLICK HERE or you may contact me directly with any future questions you may have.