0
Under the recently enacted federal stimulus package, known as the American Recovery and Reinvestment Act of 2009 (ARRA), certain eligible individuals may be entitled to a 65% reduction in their premium payment.
The qualified person pays 35% of the premium and the insurance carrier receives a tax credit reimbursement for the balance. This reduction only applies to premium payments made after February 16th, 2009 and lasts for a maximum of 9 months. To be eligible for this reduction you must have first been eligible for COBRA between September 1, 2008 and December 31st, 2009 due to involuntary loss of employment during this time period.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
If you retire and have cobra insurance from a previous employer and get a new job with insurance can you still keep your cobra insurance and which insurance is the primary insurance?
COBRA insurance is a guarantee that your health insurance is portable when you leave the job. It is now private insurance where you are paying for it. The cost is probably higher than the employer provided insurance so you would want to look at the 2 carefully and determine which would be most economical. It does not make sense to pay for two policies. If your new job pays for (some of) the insurance dump your COBRA.
Is there such thing as a certificate of no insurance coverage?
Yes, in order to qualify for the new PCIP insurance program in California, you need to certify that you have not been enrolled in any health insurance program for the past 6 months.Quote: "Have no health insurance coverage for the past 6 months. This means in the last 6 months you were not enrolled in an individual or job-based health plan, including COBRA or Cal-COBRA, or enrolled in Medicare Part A and/or Part B, or in Medicaid/Medi-Cal."
When can you get health insurance subsidies?
While there may be subsidies available from your state, Federal Government subsidies to help qualifying individuals and families afford privately-purchased health insurance won't be broadly available until 2014, according to the new federal health reform laws. Federal subsidies not related to health reform legislation may also be available for qualifying persons who enroll in COBRA health insurance as a result of a lay off. If you are in danger of losing your employer-sponsored health insurance as a result of a lay off occurring between September 1, 2008 and May 31, 2010, talk to you Human Resources department or benefits administrator to find out if you will qualify for COBRA or the subsidy. COBRA is a federal law allowing persons who lose employer-based coverage to continue that coverage at their own expense (without the employer contributing), generally for up to 18 months. The federal COBRA subsidy covers 65% of the monthly COBRA health insurance premium for up to 15 months and is only available to persons who enroll in COBRA as a result of a lay off. Note that the subsidy is not paid directly to you but is provided to the employer or benefits manager to help defray the cost of monthly premiums on your behalf.
When does the new health insurance law take effect?
The new health insurance law will take effect on January 1, 2014. The Affordable Care Act is already beginning to implement the changes that will effect our healthcare system. While these changes are minor, expect the new system to be in place at the beginning of the new year.
Should you pay for COBRA- If you are pregnant in Arizona and do not get COBRA will the new insurance cover the pregnancy?
i would be concerned about having a cobra near a baby since they are poisnous.
Where is the best place to get medical coverage?
If you are not employed you may be eligible to continue your previous employers' health insurance through COBRA. This also applies to children going off to college... you also may be able to continue on your parent's health insurance coverage through COBRA. This is a very good option for people who may have lost their job and are still undergoing medical treatments. If you were to switch to another insurance plan, your current medical treatments may not qualify under the new health insurance plan. But.. WARNING! This will not be an affordable health insurance option. The premiums will be much higher and you may be able to better afford one of the below options first.
Have you heard of a company called Cobra Insurance in the United States?
There is no company called Cobra Insurance. What you're thinking about is COBRA insurance, which stands for Consolidated Omnibus Budget Reconciliation Act, which for most people its main usage is allowing you to basically pay your premiums for your old job's insurance when you leave the company until you get new insurance or 18 months.
When did Health Insurance Plan of New Jersey end?
Health Insurance Plan of New Jersey ended in 1999.
Is it a law that employers must cover your health insurance if you are a full time employee?
No, Not at the moment. Although the New Health care reform bill may require it soon.
Would insurance cover me at a new job if you had insurance at your last job and daughter has a brain tumor?
It is possible, but I would use COBRA until I have a definitive ruling from the new insurance Carrier
Do i have to pay medical and dental copays in new york state?
Many of us do, but it depends on your health insurance contract, not on state law.
Where can one get a health insurance?
One can get health insurance here in the United States from Obamacare. It is the new health care legislation that guarantees that every citizen can have health insurance.
