Some Good Extensions into the New Year

Some good things have been extended into 2010. For workers who have lost (or will lose) their jobs between the end of November and the end of February, 2010, the subsidy of COBRA health benefits will be extended. Workers losing their jobs in that time period will still be eligible for a 65% subsidy of their premiums.

The $8,000 tax credit for first time buyers has also been extended to purchases between January 1 and April 30th, 2010. If there is a binding home sales contract signed before April 30th--and the sale is finalized by June 30th--the tax credit still stands. The legislation also offers a chance for repeat home buyers to get a $6,500 tax credit, with the same time restrictions.

Good Stuff on the Health Insurance Front

Some found goodies for people who are having problems finding or keeping their health insurance. The new stimulus package has a provision to help newly unemployed people get a subsidy to pay for their COBRA coverage. COBRA allows you to keep your employer health insurance for 18 months after you lose your job (in companies of 20 or more), but you must pick up the cost. The new law means that the government can subsidize 65% of the premiums for the first 9 months if you lose your job between September, 2008 and December, 2009. Note that it's only for those with no other access to group insurance. See the Chicago Tribune's blog for further details on its application, and how to get coverage. If you have any questions, call the hotline of the U.S. Employee Benefits Security Administration (1-866-444-3272) to clear them up.

Also, there's a good website on how to get coverage in the first place. The Foundation for Health Coverage Education has a website that gives health insurance information on each state, from both public and private sources. You can call up a matrix from your own state to find out your health insurance options, or take a short quiz to find out possibilities. Just plug in your state, answer a couple questions, and they will spit out some possibilities. If you want to talk to a human, try their toll-free hotline (800-234-1317) 24/7.