By Mimi Johnson, NCL Health Policy Associate
… Or all your money trying to pay for it! Thanks to the American Recovery and Reinvestment Act of 2009 (ARRA) passed by Congress and signed into law by President Obama last month, COBRA premiums are shrinking. This brings needed support to the many thousands of people who have lost their jobs – and their health insurance. Traditionally, COBRA coverage requires the former employee to pay 100 percent of the premium plus an additional 2 percent for “administrative costs”, but under the ARRA, those eligible will only have to pay 35 percent of the premiums. To see if you qualify, visit the Department of Labor’s site.
While the League envisions a day when all Americans have access to affordable coverage regardless of employment status, we applaud policy makers for taking a step to prevent even more citizens from losing their coverage.