U.S. Congress - H.R.6001 COBRA Affordability Act of 2010
H.R.6001 - COBRA Affordability Act of 2010
To amend the Internal Revenue Code of 1986 to provide for the establishment of tax-free COBRA premium payment accounts, and for other purposes. view all titles (2)
All Bill Titles
- Short: COBRA Affordability Act of 2010 as introduced.
- Official: To amend the Internal Revenue Code of 1986 to provide for the establishment of tax-free COBRA premium payment accounts, and for other purposes. as introduced.
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Official Summary
7/30/2010--Introduced.COBRA Affordability Act of 2010 - Amends the Internal Revenue Code to allow: (1) the establishment of tax-exempt accounts for the payment of COBRA (health insurance continuation benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985) premiums; (2) aOfficial Summary
7/30/2010--Introduced.COBRA Affordability Act of 2010 - Amends the Internal Revenue Code to allow:(1) the establishment of tax-exempt accounts for the payment of COBRA (health insurance continuation benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985) premiums;
(2) an income-based tax deduction, up to $2,500, for cash contributions to such a COBRA premium payment account;
(3) tax-free distributions from such an account for payment of COBRA premiums;
(4) the rollover of unused amounts in such an account into a tax-exempt retirement account; and
(5) employees to elect to enroll in an alternative health plan offered by their employers, in lieu of COBRA coverage.
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