March 16, 2009

New COBRA Subsidy is Effective Immediately

Filed under: General — 7macaw @ 6:45 am
Tags: , ,

The economic stimulus package signed by President Obama on Feb. 17 (its official title is “The American Recovery and Reinvestment Act of 2009”) creates a new, temporary employer-paid COBRA subsidy.

Under the new law, effective immediately, employers are required to fund 65% of an employee’s COBRA premiums for up to 9 months.

Source: San Fernando Valley Business Journal

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