Legal

COBRA Subsidy Extension Set for Full Senate Vote

By Staff Report

Mar. 9, 2010

Tax legislation that would further extend COBRA health insurance premium subsidies moved closer to passage when the Senate voted 66-34 on Tuesday, March 9, to stop debate on the measure.


The Senate action sets the stage for a final floor vote on the bill, H.R. 4213, which would extend the 65 percent, 15-month federal premium subsidy to employees involuntarily terminated through December 31.


The Tuesday vote followed a stopgap extension for employees terminated involuntarily from March 1-31 that President Barack Obama signed into law last week.


The Senate measure, which was introduced as a substitute amendment to H.R. 4213, a bill already passed by the House, also would allow employees who first lost group coverage due to a reduction in hours and then were terminated to receive the COBRA premium subsidy, so long as certain conditions were met.


Other provisions would give employers more time to make required contributions to their pension plans and extend other expiring U.S. Tax Code sections. Following expected approval of the latest COBRA extension by the Senate, the House would again have to vote on the measure. 


Filed by Jerry Geisel of Business Insurance, a sister publication of Workforce Management. To comment, e-mail editors@workforce.com.


 


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