its not covered, hes got an older rs. mine went last winter neil and I actually drove on it for a long time simply because it was just noisy and not loose. the rear bearings on these cars are a pain in the DONKEY simply because of the one long bolt that connects everything...its been in there since it was made and will be seized. 30 bucks at a subaru dealer. the bearing itself is a pressed in unit, not for the weekend mechanic. the abs light will only come on once the sensor is broken due to the bearing being so loose it snapped it off or its not seeing the tone ring anymore.
A simple way to check for a bad bearing is to drive it in a straight line at whatever speed you hear the noise, turn the wheel left and right, youll be "loading" one side of the cars bearings and taking it off on the opposite side. If the noise goes away when you load the left and comes back when you load the right you know you have a right side bearing bad.Another thing you can do is jack the car up so all 4 tires are off the ground. Spin each wheel by hand while you place a finger on the spring, you will feel the bad bearing through the spring.
Bearing is cheap, something like 50 bucks. roughly 2-3 hrs in labor. make sure its a good shop that does it.