Subsidy on COBRA Health Insurance Premium Gets No Extension from Democrats

If you have been handed that pink slip after June 1, you will see more than just your salary cheque disappear.

That is because, the House of Democrats in the previous week made a decision that no extension will be given to the subsidy on your COBRA health insurance plan, so as to bring the costs of jobs and tax bill down, by winding its way through Congress.

Continuing the terms through Dec. 31 would run on $7.8 billion. The loss of the 15-month financial support leaves hundreds of thousands of newly unemployed Americans to carry the load of health insurance coverage on their own.

On average, the monthly premium unaccompanied eats up almost 84% of a person's redundancy check, according to Families USA, a consumer advocacy group.

Dozens of people at present are getting a lot of benefits from the subsidy wrote, CNNMoney. com, in current days to say how vital it is. Without the additional assistance, they said that they may perhaps not be able to afford to pay for their coverage and their treatments for diabetes, cancer, high blood pressure and other diseases.

House Speaker, Nancy Pelosi, D-Calif., said on Tuesday that she intends to revisit the COBRA subsidy.