"[A recent news story] reported that a qualified beneficiary with leukemia had his coverage terminated early because his premium payment was 26 cents short.... The IRS' final COBRA regulations establish special rules for COBRA premium payments that are short by an amount that is 'not significant.' In such cases, a plan must choose between one of two options: treat the payment as satisfying the plan's payment requirement as payment in full for COBRA coverage; or notify the qualified beneficiary of the deficiency amount and grant him or her a reasonable period (as a safe harbor, 30 days is deemed reasonable) to pay the shortfall. The IRS regulations state the term 'not significant' means the shortfall is not greater than the lesser of $50, or 10 percent of the amount to be paid."  MORE >>