Coverage Continuity Act - Amends the Internal Revenue Code to: (1) increase from 65 to 85% the rate of the tax credit for the health insurance costs of taxpayers who are Trade Adjustment Assistance (TAA) or Pension Benefit Guaranty Corporation (PBGC) benefit recipients; and (2) extend such tax credit to certain individuals who are eligible for health insurance continuation benefits under the Consolidated Omnibus Budget Reconciliation Act (COBRA).
Allows individuals whose eligibility for COBRA continuation coverage terminates between January 1, 2009, and December 31, 2009, to extend such coverage for an additional 12 months.
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