Snakebit: COBRA Extension Fails
As stalemate on unemployment bill is broken, federal health insurance subsidy absent from legislation.
Insurance Networking News, July 21, 2010
The odds for unemployed Americans receiving a 65% subsidy to pay for premiums under the Consolidated Omnibus Budget Reconciliation Act just got a bit longer.
The Senate is set to pass H.R. 4213, the Promoting American Jobs, Closing Tax Loopholes and Preventing Outsourcing Act, without any COBRA extension.
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In June, Sens. Bob Casey (D-Pa.) and Sherrod Brown (D-Ohio) offered an amendment that would have extended the 65% premium subsidy for COBRA benefits through November 30, 2010. However, the amendment fell victim to concerns about a filibuster of the package, which Senate Republican say is too costly given the budget deficit.
"Millions of Americans have been hard hit by the recession and lost their jobs through no fault of their own," Casey said at the time. "Unfortunately, some people in Washington want to pull up the ladder and take away help for these struggling families.
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