In April, Congress passed and the President signed the Continuing Extension Act of 2010 which extends COBRA subsidy eligibility period for the third time for individuals who are involuntarily terminated on or before May 31, 2010. The subsidy covers 65% of the cost of COBRA coverage. It also extends eligibility retroactively from the previous deadline of March 31, 2010. Lawmakers may continue to consider a longer term extension of the COBRA subsidy so May 31, 2010 may not be the real end if further legislation is enacted. If you were involuntarily terminated, make sure to ask your employer about COBRA coverage and apply for the subsidy.
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