COBRA Benefits Extension – Obama Supports COBRA Until June 2010?

admin — Tue, 08 Dec 2009 19:30:55 +0000

As many of you know COBRA benefits are set to expire on December 31st, 2009. Recently we have heard that President Obama supports the extension of COBRA until June 2010. In Minnesota, Senators Amy Klobuchar and Al Franken strong support the extension of COBRA as 10% unemployment and the rise in heating bills is going to greatly hurt the wallets of millions of Americans.

The two Minnesota Democrats signed a bill with 22 other senators to Senate Majority Leader Harry Reid asking for a vote to extend COBRA benefits through June of 2010; the senators feel the issue should be voted on before the expiration date of December 31st, 2009. At the present time, a 65% subsidy of premium costs for COBRA benefit holders will expire at the end of 2009. The bills submitted to Congress ask for an increase to 75% subsidies along with an extension through June 2010.

Also in legislation is a bill to extend unemployment benefits by $25 a week and stop the income tax on the first $2400 of any unemployment benefit that is received from those who are currently without a job. Those who are pushing for the extension of COBRA and unemployment benefits are listed below:

Debbie Stabenow

Bob Casey, Jr.

Tom Harkin

Amy Klobuchar

Al Franken

Ben Cardin

Robert Menendez

Herb Kohl

Ron Wyden

Daniel K. Akaka

Jack Reed

Sherrod Brown

Arlen Specter

Sheldon Whitehouse

Jeanne Shaheen

Frank R. Lautenberg

Barbara Boxer

Carl Levin

Roland W. Burris

Kirsten E. Gillibrand

Jeffrey A. Merkley

Ted Kaufman

Christopher Dodd

Dianne Feinstein

If the current economy and your financial struggles have gotten you down make sure to check out the inspirational blog My Life After Retail. The blog is an account of the journey to find peace of mind and happiness in today’s society.

Author: Jesse Wojdylo

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COBRA Benefits Extension – Obama Supports COBRA Until June 2010?