Unemployed Still Waiting for COBRA Subsidy Extension

Unemployed Still Waiting for COBRA Subsidy Extension -

The COBRA subsidy is exhausted, leaving the Americans newly unemployed without additional help COBRA means. It remains unclear whether Congress will pass an extension that will help people who lose their jobs on June 1, 2010 or later; however, it was removed from the extension of the tax bill because of the cost.

According to The Wall Street Journal , the COBRA subsidy was originally adopted in the stimulus package and provided the Americans help who became unemployed from September 08 to 31 May 2010. the grant covered 65 percent of COBRA costs while Americans paid COBRA on the other 35 percent.

If Congress adopts the grant, it will be retroactive and cover individuals who have become unemployed or after June 1st. If Congress does not pass the subsidy, COBRA premiums may be too expensive for many individuals and families.

and individual health insurance policies group are usually cheaper on the private insurance market as COBRA. Yet consumers with pre-existing conditions may find it difficult to get coverage until 2014.

The law on health insurance was adopted a few months ago, but individuals with pre-existing conditions can still be denied coverage until 2014. This is a potential problem for people on COBRA with pre-existing conditions.

The national high-risk pools will provide coverage for people with pre-existing conditions, but these people may not have coverage for six months before applying for high risk pools to qualify .

It is preferable that consumers and individuals with COBRA talk to a health insurance agent to discuss the best options to get health insurance coverage.

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