Economic stimulus package

A provision in the recently enacted economic stimulus package that would provide federal subsidies to help cover the cost of health insurance premiums under COBRA will make the program more affordable and accessible, the Wall Street Journal reports. Under the provision, workers involuntarily terminated between Sept. 1, 2008, and Dec. 31, 2009, and whose annual incomes do not exceed $125,000 for individuals or $250,000 for families qualify for subsidies to cover 65% of the cost of health insurance premiums under COBRA for as long as nine months. According to the Journal, the subsidies "should make it easier for people to protect themselves not only from ruinous medical bills, but also from the inability to get new insurance due to a pre-existing medical condition."

The stimulus package also includes a provision that allows recently unemployed workers who participate in COBRA to switch to less-expensive health plans, provided that their former employers offer them, before the open enrollment period begins. The provision could "help some people who chose the more-expensive health care plans offered by their employers when they had their jobs," the Journal reports.

However, some employers raised concerns that the provisions will increase administrative and other costs. John Goodman, president of the National Center for Policy Analysis, said, "The new law will impose very large costs on employers" and "make it more expensive for employers to provide health insurance." He added, "And for those who do, it will make it more expensive to hire new workers" (McQueen, Wall Street Journal, 2/19).

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