It states, by law, that anyone involuntarily unemployed between Sept. 1, 2008, through Dec. 31, 2009 will be allowed to keep their health insurance for up to 9 months unless they find other employment that offer health insurance. I support the Cobra health insurance plan and believe it to be an asset to the unemployed American worker; how it’s carried out is another issue.
Now for the kicker! The former employer is responsible for payment of 65% of the premium, the insured is responsible for 35%. But that’s not all! Although the government will allow tax credits to the employer, this will be a huge expense to cash strapped businesses. They will probable have to dismiss more employees just to make the premium payments. A business that's operating at a loss will fold.
Did I mention this program is retroactive back through September of 2008?
This will cripple the cash flow of small business all over America. It will increase unemployment and be another stumbling block for economic recovery.
The Obama administration has proven it’s anti-free enterprise. That’s why big business is moving overseas as fast as they can.
Denney Crane
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