Wednesday, May 6, 2009

Money in the bank

If you get laid off between 9/08 and 12/09 there is a good chance the government will subsidize your heath (Cobra) insurance costs for 65% of the normal charge, for up to 9 months, if you don’t piggy-back on your spouses coverage and, as a family, make less than $250k adjusted gross income ($125k for an individual).

Kaiser Foundation estimates an average savings of $6200 over 9 months.

On another note... Watson Wyatt Consultants says most employer cost-cutting actions have peaked, and that most are planning no further hiring freezes, restructuring changes, layoffs or salary freezes.

No particular industries were mentioned, so I’m assuming the best for ours!

Harvey Dorland

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