As many of us well know, COBRA requires employers to offer a continuation of insurance coverage for laid-off employees. The continuation of benefits lasts for a period of 18 months, and typically employees would be responsible for the entirety of its cost. However, the COBRA subsidy program, which pays 65% of the cost for a period of 9 months, was introduced this last year to ease the financial burden of maintaining health care. For many, this subsidy will be expiring, and a new bill has been introduced into the Senate and House to expand the benefit period to 15 months.

Read the full post on COBRA Extension.

In March, the federally funded 65% subsidy for COBRA insurance began for workers who lost their employment between September 2008 and December of 2009. However, this subsidy only lasts for a period of 9 months, and as a result many Michiganians are now being faced with the dilemma of whether or not they will be able to afford their new unsubsidized insurance premiums.

According to recently released reports, the average premium for families on COBRA will skyrocket from roughly $360 to over $1,000 a month. With many workers still struggling to find employment, such a drastic jump is simply unrealistic to afford; specifically, the new insurance premium will essentially consume their entire unemployment check.

Read the full post on COBRA Subsidy Coming To an End in Michigan.

If you have recently lost your health insurance through your employer as a result of cut backs or termination of employment there are numerous options available to you to acquire major medical health insurance. You have the choice to shop around for an individual insurance policy or you can go through the COBRA option offered by your employer. The important thing to remember is to always look at all of your options.

Read the full post on COBRA vs. Individual Health Insurance.

The Consolidated Omnibus Budget Reconciliation Act (COBRA) was passed in 1986 by congress, and affords former employees, an employee’s family, and retirees to continue their group health coverage after their employment ceases. For the most part, you’re able to continue your group coverage for up to 18 months after your employment is terminated. Although this sounds nice, the reality is opting for COBRA coverage really hurts the pocketbook. The reason why COBRA costs so much is because the ex-employee is responsible for paying the entire premium of what it cost to be insured under the group plan.

Read the full post on Obama’s Stimulus Bill Helps People Afford COBRA.