Sign-up window for free COBRA coverage for many laid-off workers closes this week

Sign-up window for free COBRA coverage for many laid-off workers closes this week

3 years ago
Anonymous $drS9DEX_Sj

https://www.siliconvalley.com/2021/07/28/sign-up-window-for-free-cobra-coverage-for-many-laid-off-workers-closes-this-week/

After being laid off from her job as a systems analyst for a specialty chemicals company in December, Gabriela de Pompignan opted to hang on to her former employer’s insurance coverage under the federal law known as COBRA. Typically, laid-off workers pick up the total cost of premiums under COBRA, but her company paid roughly 75% of the expense for the first six months, leaving de Pompignan with a $659 monthly bill for the family plan covering her, her husband and their 9-year-old son.

Since both de Pompignan and her husband, a lawyer, were unemployed, her company’s temporary financial support was crucial to making their premiums affordable. What de Pompignan didn’t realize, however, was that she was eligible for an even better deal. Under the American Rescue Plan Act that President Joe Biden signed in March, COBRA premiums for laid-off workers are covered in full by federal funding for six months from April through September.