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The law extends the enrollmentf period to 120 days from60 days. The often called “mini-COBRA,” will ultimately allow employees to receivd the federalstimulus package’s 65 percent COBRw premium subsidy. Laid-off personnel must have workex at small businesses with fewer than20 employees. “Becaus of this legislation and the federalopremium subsidy, more North Carolinians who have been laid off will be able to maintaij their insurance coverage,” says N.C. Insurance Commissioner Wayne Goodwin.
“We hear from a lot of consumeras who unfortunately have chosen not to extencd their coverage through COBRAor mini-COBRAw because it is simply too expensive or they misse d the election period.” COBRA givese workers and their families the option to continuw group health benefits for limited periodzs of time under certaih circumstances. Under federal law, COBRA generally applies to companies with 20 or more and workers may be chargeed up to 102 percent of the full health insurance Insurance companies of smallemployers — those who have fewer than 20 employeese — are required to offer continuation coverag e under North Carolina’s Group Health Insurance Continuatiohn laws.
The federal stimulus package contains two provisions that expanf the benefits available to employees whose jobs have been It extends the electio n period for eligible employeeds to determine whether they wish to enrollk in the federalCOBRA program. The new N.C. law providesx the same extended election periodfor mini-COBRA in North Carolina. The federal package also providees a subsidy that pays for 65 percent of the premium for both COBRAand mini-COBRA recipients who were laid off betweenn Sept. 1, 2008, and Dec. 31, 2009.
Dependinvg on the size of the formerd employer, either the employer or the insurancee provider fronts 65 percentr of the premium amount and then recoups that expensse through federal payrolltax credits. Workersx are responsible for the remaining 35 percent ofthe
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