President Obama signs legislation that extends for six months a federal subsidy to help unemployed workers acquire health insurance through their former employers’ health care plans. In addition, the bill increases unemployment benefits. The law takes effect immediately.
The new law provides an extra six months of federal subsidy payments that allows unemployed workers to purchase health care coverage guaranteed by the Consolidated Omnibus Reconciliation Act, better known as COBRA. The new law extends eligibility for the subsidy program for two months.
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