Saturday, August 8, 2009

NYS COBRA Extension

This past week, the NYS governor signed into law an extension of COBRA from 18 months to 36 months. COBRA gives employees who have lost their jobs the option to buy continued health coverage that had been provided by their group health plan.

How many New Yorkers could buy coverage under the new COBRA extension, retroactive to July 1, is unclear. But with an unemployement rate over 8% and a lengthening in unemployment durations, this can only be good news for those still looking for a job after 18 months.

If you're on COBRA and are a NYS resident, make sure that your previous employer, who is administering these benefits, knows that you are eligible to continue your COBRA coverage for up to three years from your departure from employment.

2 comments:

Anonymous said...

Guess what? If your employer COBRA contract was issued or renewed prior to July 1st, 2009, you don't qualify for the 18-month extension, even if your 18-months of coverage expires after July 1st, 2009. Ridiculous? So only COBRA contracts issued or renewed by the employer AFTER July 1st, 2009, qualify for a COBRA extention of an additional 18-months. Is this the intent of the legislators?

Anonymous said...

I "heard" amendments might be added to Governor Patterson's bill for COBRA extension to 36 months. If no amendments are added, this is "empty" legistaion..