Can someone tell me if they received insurance during the displacement was it Cobra? how long did you have it? and did Wells pay their part of the insurance?
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Full answer: Displaced (location strategy) in March, 2026 and did NOT lump sum. The only difference on my paycheck is that I can no longer contribute to 401k. Everything else stays exactly the same including medical, dental, legal, optional critical illness and term life insurance. I found documentation that you can keep your term life insurance after severance runs out. The paperwork indicates that If you elect to lump sum then your medical insurance will run out. Hope that helps.
if severed you will keep your benefits and pay the same amount you do today until the end of the month your severance ends unless you choose to get a lump sum of your severance at which point your you'll need to go on cobra and pay the full amount if you choose to keep getting the benefits through WF. You can also choose to cancel any and all of your benefits during severance if you go through a qualifying event such as you being laid off and you change to a spouses insurance or you find a new job
You have to pick up the full cost of cobra under the current plan if you choose to stay on it. WF no longer pays your portion under your severance period. Look it up under appendix e of Benefits handbook.
Whatever you had - you keep it. WF pays their portion as before, and you pay yours. That stops when your severance ends. Then its COBRA or you find something else.
The only difference - is that the disability insurance(s) I think are stopped. (company paid).
@a4 or if you meet the retirement qualifications you can remain with WFC insurance but you pay both portions until Medicare eligibility.
@OP you keep your regular insurance and same rate until your severance ends. Then you can go in COBRA if needed