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COBRA health coverage may expirePosted On Mon, June 7, 2010
For many in the United States that have lost their jobs, the country's COBRA health care coverage has helped to bridge the gap between insurance coverage provided by their employers.
But unless Congress passes a retroactive extension, people who lost their jobs on or after June 1 will no longer be covered by the program, which covers about 65 percent of their former employers' health insurance plan. According to the Wall Street Journal, the House recently removed that a measure from a bill it later passed, which now awaits Senate approval.
Without the subsidy, only people who lost their jobs between September 2008 and May 31, 2010 would be eligible for the coverage, the Journal said. The average cost of COBRA coverage without government aid is more than the average income from unemployment insurance in 11 states.
While the U.S. Department of Labor recently reported that the number of unemployed Americans fell to 9.7 percent in May from 9.9 the previous month, there is cause for concern, the New York Times reported. Almost all the growth came from the federal government hiring 411,000 people to fill temporary Census jobs.
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