COBRA Subsidy & More: American Rescue Plan of 2021

Big news for individuals that lost employer health insurance. Effective April 1st, all group health plans subject to COBRA, except health flexible spending accounts (FSA), must provide 100% subsidized coverage, which the employer may recover by claiming a credit against its quarterly Medicare payroll tax liability. The credit can be advanced and is refundable, meaning the entity could claim a refund if the subsidy paid exceeds the taxes due.

Read on for more details: https://www.natlawreview.com/article/american-rescue-plan-act-2021-cobra-subsidy-pension-funding-and-other-employee

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