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IRS Notice Provides Guidance on COBRA Premium Subsidies

Friday, June 11, 2021
On May 18, 2021, the IRS released Notice 2021-31 (the “Notice”) providing guidance on the temporary 100% COBRA premium subsidy under the American Rescue Plan Act of 2021 (“ARP”), summarized generally here. The Notice addresses how to calculate the premium subsidy and the corresponding tax credit available to premium payees, as well as the rules for claiming the tax credit.
Calculating the Tax Credit: Generally
The general COBRA rules provide that a group health plan may charge a qualified beneficiary 102% of the applicable premium for COBRA continuation coverage. According to the Notice, if the employer does not subsidize COBRA premiums for similarly situated qualified beneficiaries who are not eligible for the subsidy, then the tax credit is equal to the full premium charged to other similarly situated qualified beneficiaries for COBRA continuation coverage. Additionally, the Notice clarifies that the premium amount inc ....

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IRS on Involuntary Employment Termination & the ARP COBRA Premium Subsidy

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A Word from the IRS on Involuntary Terminations of Employment for Purposes of the ARP COBRA Premium Subsidy
Wednesday, June 9, 2021
One important question that arises when determining whether an individual is eligible for the COBRA premium subsidy under the American Rescue Plan Act of 2021 (“ARP”) is whether the employee has experienced an
involuntary termination of employment. (See our prior blogs on the ARP subsidy, here.) The IRS’s recent Notice 2021-31 (the “Notice”) provides helpful guidance on this issue.
What is an
One of the key interpretive questions under ARP is “what is an
involuntary termination of employment”? Given the various factual circumstances that could arise, it is not surprising that this is one of the most frequently asked questions. The Notice helps define an involuntary termination of employment, and in many respects follows previous IRS guidance relating to the 2009 federal CO ....

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Applying IRS Cobra Premium Subsidy Guidance

On May 18, 2021, IRS issued Notice 2021-31 regarding COBRA premium subsidy provisions of ARPA. The IRS has now issued additional FAQs in the Notice Below is a summary of the provisions of the Notice most relevant to employers and plan sponsors. ....

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IRS Guidance Adresses COBRA Premium Subsidy Expiration

Friday, June 4, 2021
In an earlier post we reviewed the end dates for the ARP COBRA premium subsidy provided by the American Rescue Plan Act of 2021 (“ARP”), and addressed the required expiration notice. This post revisits the topic in light of the new guidance in IRS Notice 2021-31 (the “Notice”).
In general, for individuals otherwise eligible for the COBRA premium subsidy, the subsidy ends on the earliest of:
The end of the subsidy period set forth in the statute (September 30, 2021),
When the individual reaches the end of their maximum COBRA continuation period, or
The first month of coverage beginning on or after the first date that the individual becomes eligible for other, disqualifying coverage. ....

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COBRA Premium Subsidy Guidance from Treasury and IRS

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