H.R.5843 - COBRA Enhancement and Healthcare Relief Act of 2006109th Congress (2005-2006)
|Sponsor:||Rep. Ryan, Tim [D-OH-17] (Introduced 07/19/2006)|
|Committees:||House - Ways and Means; Education and the Workforce; Energy and Commerce; Government Reform|
|Latest Action:||09/28/2006 Referred to the Subcommittee on Employer-Employee Relations.|
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Summary: H.R.5843 — 109th Congress (2005-2006)All Bill Information (Except Text)
Introduced in House (07/19/2006)
COBRA Enhancement and Health Care Relief Act of 2006 - Amends the Employee Retirement Income Security Act of 1974 (ERISA), the Public Health Service Act, the Internal Revenue Code, and related federal law provisions to extend from 18 to 36 months the period during which employees and other individuals whose group health care coverage has terminated can continue such coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (known as COBRA continuation coverage).
Amends the Internal Revenue Code to: (1) allow individual taxpayers a tax credit for the cost of COBRA continuation coverage; (2) provide for advance payments of such credit to cover current COBRA continuation coverage premiums; and (3) increase tax rates for individuals with adjusted gross incomes over $500,000 ($1 million for married taxpayers filing joint tax returns).