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Member, Beacon International Group, Ltd.
WASHINGTON—President Barack Obama has given final approval to another short-term extension of COBRA health insurance premium subsidies for employees who are terminated involuntarily.
The president signed H.R. 4851 into law late Thursday. The bill was approved earlier in the day by the Senate on a 59-38 vote and by the House on a 289-122 vote.
The measure extends the 15-month, 65% federal premium subsidy to employees laid off from April 1 through May 31. The previous short-term extension expired March 31.
President Obama, who signed the bill shortly after the House vote, urged lawmakers to pass legislation to extend the COBRA premium subsidies to employees laid off through the end of the year.
The Senate has cleared a measure, H.R. 4213, that would do just that, but the House has yet to act on it.