The U.S. Department of Labor (DOL) recently released FAQs about the COBRA premium assistance credit, which was added by a recent law. The American Rescue Plan Act provides a 100% premium subsidy for qualified beneficiaries who are 1) currently enrolled in COBRA or 2) eligible but didn’t enroll previously or enrolled but dropped out. It covers the period of April 2021 through September 2021. The subsidy is available only to employees who lost group coverage because they were involuntarily terminated or their hours were reduced. Generally, the FAQs cover eligibility requirements, period of coverage, premiums information and notice requirements. Read the DOL’s FAQs here: https://bit.ly/3ultHPa Call or visit our website for more information! www.mjscpa.com/
