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Expansion of the
Consolidated Omnibus Budget Reconciliation Act (COBRA)
to provide health coverage to individuals who have lost
their jobs. This includes a 65% subsidy toward a qualified
individual’s health care coverage premium for up to nine
months. Additionally, employees who had initially declined
coverage would have an additional 60 days to elect to
receive the subsidy.
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Creation of a Health Information Technology Network
to
accelerate the adoption and use of health information
technology by doctors and hospitals. Under ARRA, the
federal government will develop standards by 2010 that allow
for the secure nationwide electronic exchange of health
information. Also, it will expand current federal privacy
and security protections for health information.
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Expansion of the
Work Opportunity Tax Credit (WOTC) that is currently
available on an elective basis for employers hiring
individuals from one or more of nine targeted groups. ARRA
expands the WOTC by creating two new categories of
individuals eligible for the credit: 1) unemployed veterans;
and 2) disconnected youth who begin work for an employer in
2009 or 2010.
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Modifications to the Unemployment Compensation Program
through
a variety of measures such as extension of benefits,
increased dollar amount of benefits per week, and incentives
for states to modernize their unemployment compensation
programs. Workers will now have until December 31, 2009 to
receive benefits, as opposed to the previous cut-off date of
March 31. To receive modernization funds, states would have
to comply with a variety of measures including: 1) adopting
an “alternative base period” allowing workers to meet
eligibility requirements by counting their most recent
wages; 2) granting unemployment compensation to workers for
“family related needs,” including domestic violence, the
illness of a family member and relocation of a spouse; and
3) granting unemployment compensation for those seeking
part-time work.
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Extension of Trade Adjustment Assistance (TAA)
for two years for employees who lose their jobs as a result
of increased imports or off-shoring to foreign countries.
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Limitations on Executive Compensation
for the highest paid individuals in companies that receive
financial assistance from the
Troubled Asset Relief Program (TARP).
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Limitations on H-1B Visas
for organizations that receive funds under the TARP or
certain federal loans. These employers would be prohibited
from obtaining H-1B visas for two years unless they have
first taken good faith steps to recruit U.S. workers for the
jobs in which the H-1B visas are sought. TARP beneficiaries
would be required to offer such jobs first to any equally or
better qualified U.S. workers who have applied.
