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New COBRA Changes Require Prompt Employer Action With Little Government Guidance
McGuireWoods [Guidance Overview] Feb. 18, 2009
Excerpt: The burden of administering and, to some extent, paying for this subsidy falls on employers that sponsor group health plans, especially those that sponsor self-insured arrangements where premiums will generally not cover the entire cost of providing benefits. Further, employers (and in some cases, COBRA third party administrators) must respond immediately to these new requirements without the benefit of IRS and Department of Labor guidance on many issues. Once President Obama signs ARRA, the new rules are effective immediately, and premium subsidies become available for periods of coverage beginning on and after the date of enactment. For most plans, that will be March 1, 2009, thereby requiring swift administrative changes by employers and their COBRA administrators.
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