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Since February, scores of laid off workers across Colorado have benefited from the reduced cost of health insurance through their former employer. This program is known as COBRA. Because of the Recovery Act, the employee pays 35 percent of the health insurance premium and the employer pays 65 percent for up to nine months. This amounts to hundreds of dollars per month in savings for Colorado residents who involuntarily lost jobs between September 1, 2008, and December 31, 2009, and worked for businesses that offered health insurance. Employers are reimbursed by the federal government in the form of credits against their payroll taxes or as refunds. State officials estimate that thousands of people are getting this benefit, although exact figures are not available at this time. Contact your previous employer for further details.
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