Limits on COBRA health insurance for the unemployed would be extended from nine to 15 months under legislation passed by the U.S. House, according to the Employment Law Update.
The $12.3 billion provision, using money from the Troubled Asset Relief Program, is part of the Jobs for Main Street Act, which would also extend unemployment benefits by six months, for a total cost of $75 billion in TARP funds.
House Speaker Nancy Pelosi (D-San Francisco) expressed hope that the Senate would approve the bill in time for President Obama to cite its passage into law at his State of the Union address in January.
Read Employment Law Update’s report on COBRA health insurance.
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