I have been hearing a lot from people concerned about their COBRA health benefits expiring. As Congress approved an extension of unemployment benefits a few months ago, the concern was that the COBRA extension (where 65% of the monthly benefit is subsidized) would be left to expire at the end of the year. In fact, many who started the program in March of this year saw that subsidy expire at the end of November.
This morning the Senate passed by a vote of 88-10 the $626 billion defense spending bill. Buried within this bill is a provision to extend subsidies for COBRA another 6 months. The bill now awaits President Obama’s signature.
For more on this read here.
JP McDermott is a financial services and insurance advisor in Walnut Creek, CA. specializing in career transitions. He is also a career and financial coach, a freelance writer on career coaching with SF Examiner.com, and has been volunteering his time and experience to various non-profit, service and civic organizations.
JP lives in Danville with his wife Candy.
Check out his LinkedIn profile http://www.linkedin.com/in/jpmcdermott