What's the situation here when you're laid off? I have a kid who needs regular prescriptions and I can't afford to lose coverage. When I was let go from my old job, COBRA let me stay on the company plan but I was paying the full premium plus two percent, which was not cheap. I'm hoping there's a better option here.
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One of the products that I service is H&W! 18 months of COBRA. 60 day window to enroll. You will pay 100% of the premium plus 2% rates are high but coverage remains the same. COBRA covers Medical, Dental & Vision. Company paid life insurance will end and if you have supplemental insurance coverages there may be options for portability from the group policy to a personal policy through the carrier.
If you are married and have a spouse or domestic partner that is employed with medical benefits your separation from the company will be considered a QLE - Qualified Life Event which allows your spouse or domestic partner to add you and any qualified dependents to their employer provided insurance coverage outside the traditional Annual Enrollment.
Good luck and I hope this is helpful
Last year remote workers' severance was 6 months of pay and 6 months of health insurance at employee premiums. After those 6 months they go up to the full COBRA rate which is about 5x the employee rate.
I used to work on the phones with health care but not our own. Expect to pay about $1200-1500 per month for you plus a kid or $2000 for family. There is usually an extension at the current rate for a period of time with severance. You’d be able to stay on coverage for up to 18 months.
There’s a whole lot of things that could impact cobra. The coverage stays the same but the cost usually does go up.
Fingers crossed you aren’t impacted ❤️