UPDATE: View Reid to push to extend unemployment, COBRA benefits again

As part of a larger unemployment insurance benefits bill, the U.S. Senate approved an extension of the Consolidated Omnibus Budget Reconciliation Act (COBRA) through Dec. 31.

The proposed extension would mean that the 15-month, 65% subsidy by the government, which expired Feb. 28, could continue through the end of the year. The subsidy came as part of the American Recovery and Reinvestment Act of 2009, also known as the “stimulus package.”

The subsidy extension came as an amendment to the more than $130 billion American Workers, State and Business Relief Act (HR 4213), passed in the Senate by a vote of 62-26. The measure passed the U.S. House of Representatives in December 2009.

Sen. Max Baucus (D-Mont.) introduced the amendment to the Tax Extender Act of 2009 to include the COBRA extension earlier this month.

Prior to the passage of the bill, Sen. Majority Leader Harry Reid (D-Nev.) called for his colleagues to act in aiding families in his state and across the nation by providing “a little more certainty and a little more security.

“This week’s bill helps those who have been hit the hardest,” he said in a statement. “Among other things, we’re going to extend unemployment benefits to those looking for work, cut taxes for families and businesses, and protect Medicaid so low-income families can afford health care.”

The bill also includes provisions on pension-relief funding, an employer wage credit for those on active duty and postpones a 21% cut to Medicare physician payments until Oct. 1.