Q: I’m 66 and just started receiving Social Security. I have COBRA health insurance for 18 months, and the Social Security people told me that I would have to sign up for Medicare Part B within (eight) months of starting Social Security or else risk a penalty. The COBRA plan from my company is very [...] [...more]
COBRA health insurance continues to be a mess for laid-off workers. COBRA is a provision of federal law that allows most workers to keep employer-based health insurance up to 18 months after a layoff. But such policies are expensive, so a subsidy of premiums was enacted as part of the 2009 stimulus bill pays for [...] [...more]
This morning’s New York Times offers good advice to COBRA health insurance beneficiaries waiting to hear whether Congress will extend the current subsidy on premiums. The nine-month subsidy was created under last year’s economic stimulus bill, and covers 65 percent of premiums for workers laid off between Sept. 1, 2008 and Dec. 31, 2009. Although an [...] [...more]
Employee benefits experts tell Business Insurance magazine that Congress almost certainly will extend the COBRA health care subsidy, which begins to expire today for some beneficiaries. Consensus seems to be the subsidy extension vote will occur in mid-December or later in the month, but no one seems sure about the details of the extension legislation. [...] [...more]
The U.S. Department of Labor has published a useful guide to health and retirement benefits for people who have been laid off. The booklet deals with issues such as eligibility for continued health insurance coverage, COBRA benefits, private individual health policies and protecting your retirement assets. You can find the guide here. [...more]
