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News Now

Washington
Audio Tuesday addresses COBRA under stimulus act
WASHINGTON (3/26/09)--A Tuesday audio, “New COBRA Requirements Under the Stimulus Act: Are You Ready?” by the Credit Union National Association Center for Professional Development, will inform credit unions about changes to the Consolidated Omnibus Budget Reconciliation Act (COBRA) under the Obama administration’s stimulus plan. One COBRA change that will be noted in the audio is that Assistance Eligible Individuals (AEI) can receive a 65% subsidy of premiums they pay for group health continuation coverage for up to nine months. The subsidy is first paid by the employer, which then may recover it from the government by an offset in the payroll taxes it pays. The audio--led by Jeffrey Storch, industry expert with Boardman, Suhr Curry and Field LLP--also will provide information for credit unions on how to identify AEIs, provide the new required COBRA subsidy notice, and how to determine the subsidy amount and receive reimbursement. “Are You Ready?” will begin at 2 p.m. CT. For more information, use the link.
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