Community News
Many of us are facing the realities of having a friend, parent or loved one in a non-medical care giving situation. We are forced to have difficult conversations with them about staying in their home and about how to fund the cost of care giving.
If you are interested in finding out more, please attend the free
"Love Your Parents + Live Your Life" seminar on March 12, 2009 at Trillium Place, 3500 Trillium Crossing, Columbus, OH 43235. Registration begins at 5:45 PM and the program begins promptly at 6 PM. You will have the opportunity to ask your questions of the Moving Forward Senior Solutions panel.
Please RSVP by Friday, March 6th to Lucy Grosz at 624-889-0934 or lucy@altavistaben.com
If you are interested in finding out more, please attend the free
"Love Your Parents + Live Your Life" seminar on March 12, 2009 at Trillium Place, 3500 Trillium Crossing, Columbus, OH 43235. Registration begins at 5:45 PM and the program begins promptly at 6 PM. You will have the opportunity to ask your questions of the Moving Forward Senior Solutions panel.
Please RSVP by Friday, March 6th to Lucy Grosz at 624-889-0934 or lucy@altavistaben.com
Back Issues
Previous versions of newsletters are posted on the Alta Vista web site. If you missed an issue or there is a previous issue you would like to reference, please visit:
http://www.altavistaben.com
Issue #14http://www.altavistaben.com
The monthly Alta Vista Benefits newsletter is provided as a service to help with issues in your every day life. Your suggestions and feedback can be e-mailed to lucy@altavistaben.com.
Stimulus Package: New COBRA legislation
As you are aware, President Obama recently signed into law a $790 billion economic stimulus package – the American Recovery and Reinvestment Act. This plan combines $281 billion in tax cuts, $311 billion in programs funded by appropriation committees and $193 billion for benefits programs.
Here are the major COBRA provisions:
1. The act provides a subsidy of 65% of the COBRA premiums for individuals who were involuntarily terminated between September 1, 2008 and December 31, 2009. This is not available for people who voluntarily resigned. Eligibility for this program ends when the individual becomes eligible for Medicare or a new employer-sponsored health plan.
2. This assistance will be available beginning March 1, 2009 and will last a maximum of nine (9) months. It is not a retroactive benefit.
3. Participants in this plan will also have to attest that their individual income is less than $125,000 and family income is less than $250,000.
4. Individuals who were involuntarily terminated between September 1, 2008 and February 17, 2009 who failed to elect COBRA because it was unaffordable, have an additional 60 days to make the election and receive the subsidy.
An individual's former employer will be responsible for paying the 65% COBRA assistance. In return, the employer will receive a credit against payroll taxes. My understanding is that payment by the employer will be triggered when the individual pays the remaining 35% of the premium.
Many of my clients are taking advantage of this subsidy while they are in a job search. Please keep in mind that the COBRA premiums return to the full amount after nine months. If you and your family want to shop for individual coverage at the end of the subsidy period, you must prove that you are insurable with any of the carriers.
If you have further questions about this legislation, please contact us. We will be happy to help you.
1. The act provides a subsidy of 65% of the COBRA premiums for individuals who were involuntarily terminated between September 1, 2008 and December 31, 2009. This is not available for people who voluntarily resigned. Eligibility for this program ends when the individual becomes eligible for Medicare or a new employer-sponsored health plan.
2. This assistance will be available beginning March 1, 2009 and will last a maximum of nine (9) months. It is not a retroactive benefit.
3. Participants in this plan will also have to attest that their individual income is less than $125,000 and family income is less than $250,000.
4. Individuals who were involuntarily terminated between September 1, 2008 and February 17, 2009 who failed to elect COBRA because it was unaffordable, have an additional 60 days to make the election and receive the subsidy.
An individual's former employer will be responsible for paying the 65% COBRA assistance. In return, the employer will receive a credit against payroll taxes. My understanding is that payment by the employer will be triggered when the individual pays the remaining 35% of the premium.
Many of my clients are taking advantage of this subsidy while they are in a job search. Please keep in mind that the COBRA premiums return to the full amount after nine months. If you and your family want to shop for individual coverage at the end of the subsidy period, you must prove that you are insurable with any of the carriers.
If you have further questions about this legislation, please contact us. We will be happy to help you.
Did You Know?
A total of 15% of the Gross Domestic Product (GDP) is used on health care spending. You have undoubtedly heard about the efforts on a national level to address health care issues.
The State of Ohio is also examining ways to make access to health care more affordable. If you would like more information about what Ohio is doing, please consult the frequently asked questions (FAQ) area on http://www.recovery.ohio.gov.
Lucy Grosz is the CEO of Alta Vista Benefits and can be reached at lucy@altavistaben.com or by phone at 614-889-0934.The State of Ohio is also examining ways to make access to health care more affordable. If you would like more information about what Ohio is doing, please consult the frequently asked questions (FAQ) area on http://www.recovery.ohio.gov.
Need a better web site? Can't be found in Google? Call Tom Anderson at 614-679-0912 or visit www.excelleweb.com.
