AB 23 Signed Into Law

California Assembly Bill 23 was signed into law today by Governor Arnold Schwarzenegger.

AB 23 legalizes the continuation subsidy for Cal-COBRA beneficiaries, which is intended to mirror the federal COBRA subsidy.

According to my information, this subsidy is to be provided directly by the health insurance carriers and only the carriers are allowed to take the tax credit to offset the subsidy.

I will blog with more details in the next few days. AB 23 was created and signed into law because the state mini-COBRA law needed a correction to approve the subsidy.

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