The American Rescue Plan Boosts COBRA Benefits For Those Laid Off
The "American Rescue Plan" that current President Biden signed into law provides some unique help in 2021 to people needing medical coverage, but separated from their job. For certain eligible workers laid off or let go, they can have their employer's coverage through the COBRA system without paying as usually required from April 1 through Sept. 31, 2021.
The same Plan also provides some credits for marketplace-based insurance, as well as some additional COBRA eligibility for those people who have yet to take advantage of COBRA, but need it, reports the U.S. Dept. of Labor.
Thirty-five years ago, the Consolidated Omnibus Budget Reconciliation Act of 1985, also known as "COBRA," was signed into law. It provides a way for workers and their families to temporarily maintain their employer-provided health insurance during situations such as job loss or a reduction in hours worked.
This blog covers additional COBRA benefits in 2021.
Original Article Source Credits: U.S. Department of Labor , https://blog.dol.gov/
Article Written By: Ali Khawar
Original Article Posted on: April 7, 2021