Benefit Relief for Laid-off Workers

B.Adam — Mon, 04 Jan 2010 08:30:55 +0000

On December 19, 2009, President Obama signed an extension for COBRA benefits into law.� Read more at SHRM.org

Posted in Employees, Job Seekers

What do you mean I don’t qualify for the COBRA subsidy?

B.Adam — Tue, 08 Dec 2009 06:59:04 +0000

A follow-up to yesterday’s post on COBRA coverage.� If you are laid off this month, but your benefits continue through the end of the month, you will not be eligible for the COBRA subsidy.� Read more at Workforce Online.com�http://www.workforce.com/section/00/article/26/85/64.php.

Posted in Employees, Job Seekers

Surviving COBRA

B.Adam — Sun, 06 Dec 2009 21:58:42 +0000

The word COBRA creates more fear in American workers than snake charmers in India, but we�re not talking about snakes here.�� If you have health benefits through your employer and have lost your job due to a reduction in force, you have probably come to dread the thought of extending your company�s health coverage through the Consolidated Omnibus Budget Reconciliation Act (COBRA).� Instead of paying the reduced premium as you did when you were employed, you are now responsible for the full premium of the company�s healthcare plan plus a 2% administration fee which can mean hundreds of dollars more each month.� More alarming is private healthcare plans are often more expensive than COBRA coverage.�

There has been some relief for American workers this past year due to the American Reinvestment and Recovery Act of 2009 (ARRA), but the provision that offers a nine month COBRA subsidy for eligible workers will no longer be available after December 31, 2009, unless an extension is passed by Congress.� Meanwhile, those workers who have already exhausted their nine months of subsidized premiums and are still unemployed are being forced to make the daunting choice of paying their COBRA premium or simply dropping their coverage in order to pay their normal living expenses.� These circumstances make even the toughest opponents to government healthcare reform ponder the possibilities.�

So what can you do if you find yourself in this predicament?� The following options may be considered, however before you dismiss COBRA coverage make sure you have been approved by a new provider before dropping your current health coverage.� �

Take a part-time job with a group health care plan. �Easier said than done in today�s economy, but this option will bring income in and will likely reduce your monthly healthcare expenses until you are able to find full-time work.�

Find a small group healthcare program or an individual health plan. �Although this option may not be as good as your COBRA benefits, it may likely provide some financial relief until you find a new job with a more affordable plan.� Check out ehealthinsurance.com.�

If you have children, determine if they are eligible for a Children�s Health Insurance Plan (CHIP). �Check with your state to inquire about available plans.� Go to www.insurekidsnow.gov.�

Contact an insurance broker and shop for a short-term plan that meets your basic needs.� This coverage may fill the gap until you secure a job that offers a group benefit plan.

�Based upon your individual circumstances, you may have many more options and should do your research before making the decision to drop your COBRA coverage.�

To learn more about the basics of COBRA coverage, watch the following video from Humana.

�Explore more alternatives and ideas through the following related links.�

�http://www.usatoday.com/money/perfi/columnist/block/2009-11-17-ym17_ST_N.htm

�http://www.blogcatalog.com/blogs/cobra-continuation-are-there-more-affordable-options.html

�http://findarticles.com/p/articles/mi_m1365/is_n7_v27/ai_19051610/

Posted in Job Seekers

Welcome to HR After Hours

B.Adam — Sun, 06 Dec 2009 01:00:27 +0000

This site is dedicated to both employees and employers who may be seeking practical advice or information regarding current employment issues.

“Available” workers or employees looking for a new career opportunity can also access valuable information in the Job Seekers section.

Posted in General Postings