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News Now

CU System
State Mini-COBRA bill would affect Pa. CUs
HARRISBURG, PA. (6/9/09)--Pennsylvania credit unions will be affected by a state bill that would extend Consolidated Omnibus Budget Reconciliation Act (COBRA) guidelines to group health insurance plans provided by employers with two to 19 employees. The bill is Pennsylvania House Bill 1089, sponsored by State Rep. Robert Matzie (D-Beaver). Under current COBRA guidelines, group plans are provided by employers with 20 or more employees. In addition to extending coverage, the bill would provide continued coverage to employees who were terminated because of a qualifying event (Life is a Highway June 8). “The implementation of this new legislation will have a significant compliance and operations impact on credit unions,” said Jim McCormack, Pennsylvania Credit Union Association president/CEO. “We are monitoring the progress of this legislation and working with our processor to ensure a smooth transition.” The Mini-COBRA Small Employer Group Health Policies are designed so Pennsylvania citizens can access premium assistance benefits provided by the federal government’s stimulus package under the American Recovery and Reinvestment Act of 2009. The bill is expected to be signed by the governor soon.


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