COBRA Subsidy and the Rate of Unisured

Many who lost jobs used COBRA subsidy, kept insurance, By Sandra Block, May 10, 2010, USA Today: “A new Treasury study says the federal COBRA subsidy, included in last year’s economic stimulus package, may have slowed the growth in the number of uninsured Americans during the recession. The study estimates that up to a third of eligible unemployed workers have taken advantage of the subsidy, which covers up to 65% of the cost of continuing a former employer’s health care coverage for up to 15 months. Under COBRA, workers who leave their jobs can continue their former employer’s health insurance coverage for up to 18 months. Ordinarily, though, they must pay the entire premium, plus administrative costs, making COBRA unaffordable for most people who are out of work…”