[ad_1]
On Might 18, 2021, the IRS issued Notice 2021-31, a steering doc on the American Rescue Plan Act (ARPA) subsidy for continuation well being protection beneath the Consolidated Omnibus Price range Reconciliation Act of 1985 (COBRA). The Discover discusses the background of the subsidy and contains 86 questions and solutions (Q&As) about its utility.
The COBRA Subsidy
The ARPA subsidy covers 100% of COBRA and state mini-COBRA premiums from April 1–Sept. 30, 2021, for sure assistance-eligible people whose work hours have been decreased or whose employment was involuntarily terminated. The subsidy is funded through a tax credit score offered to employers, insurers or group well being plans, in keeping with the phrases of the statute.
Click here for extra details about this IRS Steering.
[ad_2]
