COBRA Subsidy Extension

Congress approved legislation to extend the federal subsidy of COBRA health insurance premiums. The legislation includes an extention of premium subsidy eligibility coverage period of two months. The new end date will be February 23, 2010instead of the orginial date of December 31, 2009. They also extended the duration of subsidy coverage from nine months to fifteen months. Individuals that were scheduled to loss their subsidy on December 1, 2009 will be able to qualify for the subsidy extention.

Workers who have used up thier original nine months eligibility will receive six more additional months of the 65 percent subsidy. Those who did not choose to continue with COBRA coverage once they timed out have the option to rejoin and pay their premium retroactively, receive the subsidy and maintain COBRA continuation. Workers who are involuntarily terminated through February 28, 2010, can now qualify to begin the subsidy and receive the full 15 months.

Demcrats 1, Republics 0, Obama declares it, a "Big Victory"

Senators voted 60 to 40, early Monday morning to move ahead with the health care reform bill. This is the first of four votes to pass the bill in the Senate before the Christmas recess. Not one Republican voted for the bill. Obama was quoted in says, "The United States Senate knocked down a filibuster aimed at blocking a final vote on health care reform, and scored a big victory for the American people."

Although the bill passed its first test,crucial aspects of the bill were left out such as the expansion of Medicare to American under the age of 65 and the inclusion of a government run public health insurance plan. There are still some significant issues that need to be worked out in the coming days. One of the biggest divides on this bill is how to fund it.

The House's bill would be financed through a combination of a tax surchange on wealthy Americans and Medicare spending reductions. Individuals with annual incomes over half a million and families earning more than a million would face a 5.4% income tax. While the Senate's bill would cut Medicare cost by roughly $500 billion dollars and impose a 40% tax on individuals with so-called "cadillac" health insurance plans.

Don't allow the Politicans in Washington to decide your health care future, visit www.GizmoHealth.com to get your coverage in place today.

The "Gang of 10" Senators

Senator Majority Leader Reid, a democrat from Nevada annoucned on Wednesday, December 9th 2009, that a group of senators have reached a concurrence on the public option. No details were released at this time, but the proposal would mirror health care plans already in place for federal employees. The Office of Personnel Management would negotiate with private insurers to create not for profit plans for individuals and small businesses. If the plans fail to drive down costs and level the playing field in the private sector, the federal government would introduce a national sponsored plan. Included in the proposal is a provision to offer individuals ages 55 to 64, the option to buy into Medicare early as well as an amendment to restrict federal funding for abortions. Although these Senators are pushing hard to resolve this health care public option issue, it is unlikely they will be able to get it passed the Senate before Christmas.

Please give on of our friendly health insurance agents a call today to discuss your health insurance options and apply directly online with the top health insurance carriers. Visit www.Gizmohealth.com or call 1-312-884-5150.

The Public Plan and Fears of Pre-Existing Conditions

This first article address the benefits and concerns of a new public option plan:

http://www.nytimes.com/2009/11/29/opinion/29sun1.html?scp=1&sq=11/29/09,%20A%20modest%20public%20plan&st=cse

The second article is an one example of an everyday American who is struggling to obtain health insurance and medical treatment after he has already been diagnosised with a brain hemorrahage.

http://www.nytimes.com/2009/11/29/opinion/29kristof.html?_r=1&scp=10&sq=11/29/09&st=cse

These articles are from the New York Times website, www.nytimes.com. If you have trouble viewing these articles, please copy and paste the link into the address bar at the top of your screen.