A bill to amend the internal Revenue Code of 1986 to allow a refundable tax credit for health insurance costs for COBRA continuation coverage, and for other purposes.
Reduces the medical expense deduction accordingly.
Requires former employers receiving COBRA payments to make a return as specified.
Sets forth criminal penalties for fraud relating to such credit.
Directs the Secretary of the Treasury to make COBRA payments in the amount of the allowable credit for eligible individuals with a qualified health insurance credit eligibility certificate.
Requires the Comptroller General to study and report on whether this credit increased COBRA enrollment.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S10296)
Read twice and referred to the Committee on Finance.
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