COBRA Premium Assistance - Triton HR Blog

The American Rescue Plan Act (ARP) that was signed back on March 11 by President Joe Biden, reshaped the way millions of Americans receive and qualify for healthcare coverage.

The ARP provides a temporary 100% premium subsidy for up to six months of COBRA continuation coverage and similar state continuation coverage programs for eligible individuals from April 1 through September 30, 2021. You may be eligible for premium assistance if you elect COBRA continuation coverage and are eligible because of your own or a family member’s reduction in hours or termination from employment.

COBRA allows certain individuals to extend employment-based group health plan coverage, if they lose the coverage due to life events, such as losing their job for example.

If you’re offered COBRA continuation coverage as a result of reduction in hours at your job or have been

involuntary terminated from your job and you decline to take advantage of COBRA continuation

coverage or you decided to take Federal COBRA continuation coverage and later

discontinue it, you may have another chance to elect COBRA continuation coverage and

receive the premium assistance.

If you would like to learn more about this to see if you qualify for premium assistance, please click here to gain access to a FAQ document about COBRA premium assistance under the American Rescue Plan Act of 2021 that is presented by the Department of Labor.

Employers can reduce its quarterly federal tax return by the COBRA amount as the vehicle to seek reimbursement. Triton can assist in all areas to help facilitate.

Contact us today if you have any questions or you are looking for additional healthcare resources.

We will continue to update you on all noteworthy healthcare and employee benefits changes at the federal and state level.

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