Provided by Hewitt Associates
President Obama Signs Bill Extending COBRA Premium Subsidy, Unemployment Insurance, and Medicare Physician Payment Rates Into Law
President Obama signed into law the “Continuing Extension Act of 2010” (H.R. 4851) on April 15, 2010. The legislation was passed by both the House and Senate the same day. The law temporarily extends the federal subsidy for COBRA benefits, unemployment insurance benefits, and Medicare physician payment rates.
Specifically, the law:
— Extends the federal 65% COBRA premium subsidy from March 31, 2010 to May 31, 2010;
— Extends the Medicare physician payment update from March 31, 2010 to May 31, 2010 to prevent a 21% drop in physician payment rates; and
— Extends unemployment insurance benefits from April 5, 2010 to June 2, 2010.
Meanwhile, the House is expected to begin debate on the pending “American Workers, State, and Business Relief Act of 2010” (H.R. 4213). The bill was passed by the Senate on March 10, 2010 and, among other tax provisions, includes extending the COBRA subsidy eligibility extension through December 31, 2010.
The full text of H.R. 4851 is available at: