I just found out that the Cobra Subsidy that President Obama put into affect last year was extended for an extra 5 months…what does this mean for you? Money, that’s what!
My Cobra Subsidy ran out November 2009 so after that I was paying the full price for my health coverage for 4 months…what this means is that I get a refund of almost $1,000 because that extension covered the time I was paying the full price. My Cobra Insurance ran out March 31st.
If you were terminated, laid off or whatever after September 1st 2008, you’ll get that extra 5 months:
“The federal COBRA subsidy was created in 2009 by the federal American Recovery and Reinvestment Act (ARRA). ARRA provided subsidized premium reductions for COBRA and state-specific COBRA for individuals who were involuntary terminated between September 1, 2008, and December 31, 2009. Since its creation, the eligibility period for the subsidy has been extended three times.“
The employers were supposed to notify ALL ELIGIBLE EMPLOYEES, but mine never did, as I’m sure yours didn’t either! I would call your insurance company and get your Cobra Subsidy refund!!