Did you know that President Obama signed a new law back in February that offers a 65% on COBRA Insurance???  South Florida is getting hit pretty hard in this downturn and for those working, it's a good idea to be prepared if something should happen. Heath Insurance is one of the benefits that hurts to lose when you get laid off. Many people are not aware that there is some help out there if you elect to take the COBRA Insurance that is offered when you get your walking papers.



COBRA is usually quite expensive...since it's basically 100% of the premium that the company pays for your policy, plus an administrative fee. A 65% discount could make it manageable.

COBRA is offered for a period up to 18 months, but the 65% subsity only lasts up to 9 months (there are talks that lawmakers might extend that time frame). President Obama signed this subsity discount back in February, but few actually know about it. Here are the conditions that would make a person qualify for the 65% subsity found on MSNBC.com:
-You must have worked for an employer with 20 or more employees.
-You must have been laid off between Sept. 1, 2008 and Dec. 31, 2009.
-You are not eligible if you qualify for Medicare or a spouse’s health insurance plan.
-You cannot receive the subsidy if you were terminated due to “gross misconduct.”
-If you make more than $125,000 a year, or $250,000 as a married couple, the subsidy could increase your tax liability.