On February 17, 2009 President Obama signed the American Recovery and Reinvestment Act of 2009 (“ARRA” or “Recovery Act”) which contains a number of entitlements and obligations affecting the workplace. In order to comply with their new obligations and understand the benefits available to employees or former employees, employers should familiarize themselves with the ARRA promptly. Below is a summary of some of the various employment-related provisions from the ARRA
1. COBRA Subsidy.
a. What is it?
The ARRA provides for a 65% COBRA premium subsidy for certain “assistance eligible individuals.” An “assistance eligible individual” is a COBRA “qualified beneficiary” who meets all of the following requirements:
a. Is eligible for COBRA continuation coverage at any time during the period between September 1, 2008 and December 31, 2009;
b. Elects COBRA coverage (when first offered or during the additional election period provided for under the ARRA); and
c. Has a qualifying event for COBRA coverage that is the employee’s involuntary termination during the period of September 1, 2008 and December 31, 2009.
Continue Reading THE AMERICAN RECOVERY AND REINVESTMENT ACT OF 2009 AND ITS IMPACT ON THE WORKPLACE