Consolidated Omnibus Budget Reconciliation Act
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The Department of Labor (DOL) is submitting the Office of the Assistant Secretary for Administration and Management (OASAM) sponsored information collection request (ICR) titled, ``Consolidated Omnibus Budget Reconciliation Act Health Benefits Subsidy Under the American Recovery and Reinvestment Act of 2009 Evaluation,'' to the Office of Management and Budget (OMB) for review and approval for use in accordance with the Paperwork Reduction Act (PRA) of 1995 (44 U.S.C. 3501 et seq.).
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The Consolidated Omnibus Budget Reconciliation Act (COBRA), first enacted in 1985 and revised in 1999, is a federal law that requires most emp...
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WASHINGTON, April 7, 2011 /PRNewswire-USNewswire/ -- For 25 years, the health insurance continuation provisions in the Consolidated Omnibus Budget Reconciliation Act of 1985, better known as COBRA, have guaranteed that when workers and their families face certain life events, they have the opportunity to maintain their health care coverage. Secretary of Labor Hilda L. Solis today issued the following statement marking this anniversary:
Today marks a quarter century since the Consolidated Omnibus Budget Reconciliation Act of 1985 became law. During that time COBRA has helped some 50 million workers - and their families - maintain affordable health coverage.
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The COBRA health insurance subsidy eligibility period has been extended until May 31.
The Consolidated Omnibus Budget Reconciliation Act, or COBRA, subsidy was established by the American Recovery and Reinvestment Act, to help workers who lose their jobs maintain their employer- sponsored health insurance.
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SALINA--Realizing several well-known Central New York companies were laying off workers, James Layhew, and his son, Jeffrey, decided in January to offer free financial planning to qualified individuals who had lost their jobs. "The minute they're unemployed, the life insurance [coverage] ended," says Layhew noting health insurance usually doesn't end due to 18 months of coverage through the Consolidated Omnibus Budget Reconciliation Act of 1985, or COBRA.
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During the 15-month period from December 2007 to February 2009, Congress enacted an amazing eight pieces of legislation containing major tax relief and spending measures. The primary aim was to jumpstart a stagnant, if not collapsing, US economy. For 2009 only, the American Recovery and Reinvestment Act of 2009 (ARRA) provides a one-time payment of $250 to individuals on fixed incomes. The Worker, Retiree and Employer Act of 2008 waives the required minimum distribution rules for 2009 for employer-provided qualified retirement plans and individual retirement accounts (IRA) and annually. ARRA enhances the landmark Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) that was designed to provide continuation of group health coverage that otherwise might be terminated with employ...