As posted by Gail Lamarche from HenLaw:
President Obama recently signed the
American Recovery and Reinvestment Act
of 2009 (the “Act”), which, among other
things, includes provisions that affect and
amend the Consolidated Omnibus Budget
Reconciliation Act of 1985 (“COBRA”). As
a result, employers will immediately face
significant new notification and premium
payment responsibilities. Employers and
plan administrators must act quickly to
implement these requirements, which
will require them to locate certain former
employees, and coordinate payroll and
COBRA administration.
See the full article for a complete discussion. Obviously, this change affects both former [or soon to be] employees and employers.
