Tag: COBRA

New IRS Guidance for Health Care Reform: More News You Can Use

Editor’s Note: Today we are pleased to post the following health care reform update on new IRS guidance that came out last week.  Many thanks to our Seattle employee benefits colleagues, authors Howard Bye, Melanie Curtice and Erin Lennon, for sharing this timely content with World of Employment. Health care reform requires employers to report the cost of health … Continue Reading

President Obama to Sign Jobs Bill Today

President Obama is today expected to sign the Hiring Incentives to Restore Employment (HIRE) Act, which in its final form passed The House of Representatives 217-201 on March 4 and the Senate 68-29  on March 17.  Click here to download the final version of the HIRE Act. Key provisions of the HIRE Act include: An exemption … Continue Reading

Senate Jobs Bill: Tax Incentives to Hire Unemployed, but no COBRA Subsidy Extension

Yesterday the U.S. Senate  voted 70-28 to approve the Hiring Incentives to Restore Employment (HIRE) Act, a $15 billion bill aimed at creating jobs, helping small businesses, and rebuilding public infrastructure.  However, the bill does not include a further extension of the current COBRA subsides for unemployed workers, nor does it increase funding for state … Continue Reading

COBRA Subsidy Extended Through February 28, 2010

As originally enacted as part of the 2009 stimulus package, the COBRA subsidy provided up to nine months of health insurance premium assistance for covered workers who were involuntarily terminated on or before December 31, 2009.  Last week, President Obama signed a bill that extends the COBRA subsidy for involuntarily terminated employees in two ways:  First, it extends the eligibility period … Continue Reading

IRS, DOL Publish New Info on COBRA Subsidy

Today the Department of Labor expanded its FAQs on the COBRA subsidies included in the American Recovery and Reinvestment Act of 2009 (ARRA).  Click here to read the DOL’s new COBRA FAQs.  Wondering what the tax implications of the subsidy are, or whether the person asking for the subisidy is truly eligible?  Click here to read … Continue Reading

Model COBRA Subsidy Notices Now Available

The Department of Labor has published four model  notices to help employers, plans and individuals comply with the notice requirements of the COBRA subsidy provisions of the American Recovery and Reinvestment Act of 2009 (ARRA).  Each model notice is designed for a particular group of qualified beneficiaries and contains information to help satisfy ARRA’s notice provisions. Click … Continue Reading

Revised IRS Form 941 Provides for COBRA Premium Assistance Credit

Employers:  The Internal Revenue Service has issued a new Form 941 (Employer’s Quarterly Federal Tax Return) that provides for any credits due because of the new COBRA Premium Assistance Credit.  You can download the new form by clicking on the links below: IRS Form 941 IRS Form 941 Instructions The IRS also has put up this … Continue Reading

DOL Issues FAQs on COBRA Subsidy

The Department of Labor’s Employee Benefits Security Administration has posted answers to 10 frequently asked questions regarding the COBRA subsidies included in the new stimulus package.  Most relate to individual claims for the subsidy, but the information may be helpful to employers as well. For more information about the subsidy, click here to read our coverage … Continue Reading

New COBRA Subsidy Forms and Information Available

The Department of Labor’s Employee Benefits Security Administration has just released a salvo of new forms and information on the COBRA subsidy.  Click on the titles below to download: COBRA Premium Reduction Fact Sheet Job Loss Poster (8½" x 11") Loss Poster (11" x 17") Flyer for Employers • Flyer for Employees COBRA Continuation Health Coverage FAQs for Employees … Continue Reading

Help On Stimulus Package’s COBRA Assistance Available

We have more information for you on the provisions of the stimulus bill affecting the Consolidated Omnibus Budget Reconciliation Act (COBRA). First, the Employee Benefits Security Administration (part of the Department of Labor) has published this website with information on COBRA continuation coverage assistance.  The Web site also includes a "Subscribe To This Page" link, allowing … Continue Reading

Stimulus Package Includes COBRA Subsidies

Among the provisions of the new stimulus package signed by President Obama are subsides for unemployed workers continuing their health care benefits through the Consolidated Omnibus Budget Reconciliation Act (COBRA).  The key points of the package are: Who is eligible?  Employees who have been involuntarily terminated between September 1, 2008 and December 31, 2009 with … Continue Reading
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