On Thursday, March 11, 2021, President Biden signed into law the American Rescue Act. This includes changes to employer COBRA coverage contributions. The applicable changes are summarized as follows:
- Those who are entitled to COBRA coverage any time between April 1, 2021, through September 30, 2021, due to a loss of coverage under a group health plan resulting from involuntary loss of employment or reduction of hours, will have their COBRA premium due within this period fully subsidized.
Wondering about how this impacts your business? Replay our webinar to learn more about the new rule, who qualifies for subsidy, how to receive the subsidy, other implications for COBRA Administration, and get answers to other frequently asked questions.