WASHINGTON — Workers who lose their jobs during April and May may qualify for a 65-percent subsidy on their COBRA health insurance premiums, according to the Internal Revenue Service. The American Recovery and Reinvestment Act established this subsidy to help workers who lost their jobs as a result of the recession maintain their employer sponsored […]
Tag Archives: COBRA
Today TaxMama hears from Dan in Massachusetts with this question. “The new COBRA premium assistance is phased out if the employee’s AGI is greater then $145K. It must be paid back when the employee files their taxes. How does the employee know what the premium assistance was?”
Courtesy of the IRS COBRA subsidy recipients who later become eligible for insurance coverage should notify their former employer to avoid a penalty Individuals who have qualified and received the 65 percent subsidy for COBRA health insurance, due to involuntary termination from a prior job, should notify their former employer if they become eligible for […]
Recently TaxMama® was at the IRS stakeholder meeting in Downtown Los Angeles. This triannual meeting between IRS and key members of the tax professional community always results in interesting experiences. One of the tidbits I’d like to share is about the special COBRA benefit in the recent tax law. You maybe aware that people who […]
The American Recovery and Reinvestment Act of 2009 establishes an employer-provided subsidy for employees who involuntarily lose their jobs. The IRS issued a news release Feb. 26 outlining information for employers. Individuals who qualify for the COBRA subsidy premium should see below for more information. Information for Employers Do you have questions on how to […]
Today we hear from Liz in Georgia who asks, “Is it true that the U.S. Military does not have to follow the 36 month COBRA rules in a divorce?https://www.natas.co.uk/dev/wp-content/languages/new/i-need-help-writing-an-essay.html My brother in law tells me that when his divorce is final, his wife will not get COBRA for 36 months – that her benefits will […]
Since I can’t easily get to the e-mail address with your questions, I thought I’d turn to today’s news. This siutation just got to me. How does this strike you? What do you do if you no longer have a job and your COBRA has run out – and you can’t get or afford new coverage […]