COBRA health insurance subsidies start expiring

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Millions of unemployed Americans face the prospect of a huge increase in health insurance costs, thanks to the looming expiration of a government subsidy, Kathy M. Kristof reports.

The American Recovery and Reinvestment Act, passed in February, launched a temporary government program to subsidize the often crippling cost of buying health insurance through a former employer’s plan after a layoff.

However, the so-called COBRA subsidy was designed to last no more than nine months for each person who was unemployed. Hundreds of thousands who got this subsidy when it was first made available in March are slated to roll off the program today.
The insurance subsidy will also no longer be available for Americans who lose their jobs starting today.

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-- Lauren Raab