COBRA Implications Under the American Rescue Plan Act - 3/24/21
Hi all, we are hosting an informative webinar on the recent COBRA implications under the American Rescue Plan Act. Details below and please feel free to register at this link.
On Thursday, March 11, 2021, President Biden signed into law the American Rescue Act which provided COBRA subsidy for employees (and their family members) who were involuntarily terminated or had their hours reduced. For any COBRA coverage due April 1, 2021, through September 30, 2021, these eligible individuals will have their COBRA premium 100% covered by government subsidy. Employers need to reclassify all employee terminations or reductions of hours (marking them as voluntary or involuntary) going back as far as 11/1/2019 and can recover the subsidy through quarterly tax credits.
Learn more and get answers on who is entitled to receive the subsidy, how to receive the subsidy, what kinds of benefits qualify for the subsidy, and other frequently asked questions about the new rule on our upcoming webinar.