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Q: Hi, My wife recently lost her job and her employer has offered her COBRA coverage. I was also on her insurance until now, though my own company offers me insurance, but it was expensive and offered fewer benefits than hers. My question is if we decide to continue on COBRA, are we eligible for the federal subsidy of 65% if we fit within the income levels for eligibility.
A: To be eligible for the reduction, you have to be involuntarily terminated, not eligible for Medicare or your spouses insurance. So to my understanding you would not be eligible because you have the option to get Insurance through your employer. You can review that information at www.dol.gov/COBRA it explains it a bit further, you can also ask your wife’s past employer when they supply you with your Cobra packet they will let you know that you are or not eligible for the reduction.
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