New Bill Would Extend COBRA Subsidy: Representative Joe Sestak

bloomberg.com:

Nov. 10 (Bloomberg) -- The U.S. Congress should extend a health-care subsidy that helps the unemployed before it ends for some recipients this month, Representative Joe Sestak said.

Sestak, a Pennsylvania Democrat, said he'll send a letter to House Speaker Nancy Pelosi today urging her to act on his bill, which would extend by six months the amount of time fired workers can receive a 65 percent reduction in their monthly premiums through Cobra.

Read the whole story: bloomberg.com

Comments

[NoMoreBail2]

We, the American people, dug ourselves into this hold for which there is no escape.a

hat tip to: http://financeopinionss.blogspot.com

[willitell]

I always wondered why they call it Cobra. I know it's an acronym but one that is the same as a p0isonous sn@ke. Instilling fear I guess.

[willitell]

I could never afford COBRA anyway. It was way too expensive.

[totaldisbelief]

right!...who could afford it?...mine would have been 650$/month for me alone.

[vm12608]

Cobra...that's a laugh. Affording Cobra after you have lost your job is one of the challenges of being unemployed.

[NoMoreBail2]

No more bailouts for too big to fail. NO more stupid tax cuts and other gimmicks. Need more jobs, affordable education & heath care.

good articles; http://financeopinionss.blogspot.com

[Gates trades]

Tired of boring news and stupid facebook widgets?

better news: http://financeopinions.blogspot.com

[BabaLou7]

Tired of your public relations.

[Tulka2]

Oh my dears. If you lose your job, how long do you think you can afford the incredible price of COBRA insurance? General strike the day after Thanksgiving. Buy nothing.

[bluejoni2525]

That makes no sense at all !! I want people BACK to work. Sorry truth is if we don't spend they don't hire !!!

[Tulka2]

Our purchasing power is the leverage an individual in a "consumer society" has. If we stopped purchasing for one day en masse, that would be a strong message to Wall Street. Or not. Your choice.

[ForObamaInDallas]

*crosses fingers*

Of all the stimulus programs put in place this year, this is the only one that has benefited me. Nothing else. Not the clash for clunkers, not the home buyer's tax credit (I can't afford to buy a house! So I didn't buy), not TARP. Just this one.

[feliznavidad]

Yes. Cobra is outrageously expensive -- but it is 1/3 what we would otherwise pay. We have NEVER benefited from ANY government bill, law, giveaway 0-- but we desperately need a COBRA extension. Thank you Sisak. Expect my vote in Pennsylvania!

[UrbanRevolution]

This is wonderful in theory. I would've only had to come up with $1200.00 per month to keep my insurance through COBRA. Let's see, my unemployment ins. = 40% of what i used to make and they think paying the equivalent of a mortgage payment every month is doable. WTF are they smoking? Thank God for spouses and their insurance. What are gay couples doing...?

[MaryanneAZ]

I just love Joe Sestak. He's a practical and reasonable man. It goes without saying that since jobs are not available, then the Cobra subsidy needs to be extended. If the unemployed could get new jobs, then they would be able to obtain new insurance.

[unbozo]

Oh good! Another totally useless program that most people can't afford! Single Payer Now!

[indy100]

Exactly.

[bluejoni2525]

This program has helped many families over a very rough patch !!!

[jugglergal]

Who can afford Cobra? It is usually twice the amount of private insurance. They've got you though if you have a "pre-existing condition" like your pregnant. It is all fixed against the consumer. Why is Cobra so expensive? Who owns Cobra?

[indy100]

COBRA is a programs that guarantees you can continue insurance coverage with the insurance company you were insured with while you had a job. Nothing pre-existing about it, as it's not NEW coverage and there is not a break in coverage if you pay the premiums, which are the FULL COST of the insurance plan. I'm a government employee and COBRA for a family plan is $886 monthly on the CHEAPEST plan. You're right, nobody can afford it, even with a 65% subsidy.

[bluejoni2525]

This subsidy was a lifesaver for my family !! My husband was unemployed earlier in the year (has since found a job with health care). We would have had a very hard time paying the almost $1200 Cobra payment but with the subsidy we payed less than $500. They really do need to put through this extension for the people who are still unemployed !!!!

[outofhere]

The subsidy has been a lifesaver for us. Without it my husband and I, ages 60 and 59, will pay a whopping $900/mth to maintain our insurance. With a subsidy we pay around $300. That mean we aren't completing destroying our savings and may just be able to hang on until one of us finds a job.

I am all for single payer but in the immediate future I support this idea.

[ForObamaInDallas]

Yep. Same here. I'm crossing my fingers.

[MNmommy]

Bless you Joe, we won't be needing it, but it was close.

[blueken]

More half way measures. More compromise. This dog won't hunt. The Democrats will be stuck with a plan that has no chance of working trying to please the Republicans, who will then turn around and say "I told you so." The Democrats are being played. How come the Republicans can be ruthless when it comes to feathering the wealthy peoples nest, and the Democrats seem powerless and divided when it comes to ordinary Americans? Trillions for banks, sorrly no money for the rest.

[bluejoni2525]

What are you talking about ???

[blueken]

Universal single payer health care. Good for business, good for the economy, good for America. The many who are well pay for the few that are sick. The government negotiates drug prices with the buying power of 450 million Americans. Doctors, nurses and hospitals can heal sick people instead of endlessly filling out paper work. That's what I'm talking about. COBRA, as handy as it might be in certian circumstances is just another band aid on a dysfunctional system that is bankrupting America.