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Senate Approves COBRA Insurance Subsidy Extension

December 19, 2009

Washington - The US Senate has approved the extension of the subsidy of the COBRA health insurance premiums yesterday.

The extension was approved under the 2010 defense appropriations bill, which also includes the temporary extension of unemployment benefits, on an 88-10 vote in a rare Saturday session for the Senate at around 5:30 pm.

The COBRA insurance premiums subsidy is due to expire this December 31, 2009 and would have caused many jobless workers to cancel their healthcare policies.

Under the passed bill, the 65% subsidy on COBRA insurance premiums will be extended from the current nine months to 15 months.

Those who will be laid off until February 28, 2010, who have COBRA coverage from their companies, will also qualify for the subsidy.

President Barack Obama, who is a big supporter of the legislation, is expected to sign the bill as soon as he can.

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