Issue #19
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.
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New COBRA Legislation
Does this affect you?
On December 19, 2009, President Obama signed a bill that extends the COBRA subsidies made available earlier this year under the American Recovery and Reinvestment Act (ARRA). Under this law, the Federal government pays 65% of COBRA premiums for a period of nine (9) months for individuals who were involuntarily terminated. In addition to some income limitations, eligibility was for individuals terminated between September 1, 2008 and December 31, 2009.
Under the new provisions:
The end date for eligibility has been extended from December 31, 2009 to February 28, 2010.
The subsidy period has been extended to 15 months, up from 9 months.
Coverage is extended to former employees whose original subsidy expired. Those individuals who lost their subsidy because they were at the end of their 9 months in November, 2009 or later are grandfathered under the new law and may receive six more months of assistance.
A new notification is required within 60 days, outlining the changes to all individuals eligible for COBRA on or after October 31, 2009.
If you have questions regarding how this legislation affects you, please contact us today. We will work with you to help you make your COBRA decision.
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Did You Know?
If you are planning to do any travel outside of the country, you should know that your medical insurance generally is not accepted outside of the United States. If you should become sick or injured, a medical evacuation can cost as much as $50,000 or more.
Travel insurance is not just for canceled flights and lost luggage. It can provide protection for both business and personal travel, foreign worker's compensation, international group health insurance, personal medical coverage and medical evacuation services. Best of all, this is very affordable coverage.
Before you take your next foreign business trip or vacation outside of the country, please contact us. We will help you make sure you have the right coverage for your needs.
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Lucy Grosz is the CEO of Alta Vista Benefits and can be reached at lucy@altavistaben.com or by phone at 614-889-0934.
Tuesday, January 12, 2010
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