Any one received thier severance payment from the recent RIFs?
20 replies (most recent on top)
@mr ,
Besides it isn't really a "severance" as it's conditional on you waiving your rights to any litigation.
Why do you think any corporation gives severance? Out of the kindness of their heart?
@mr This. Additionally, Garden Leave, if any, is not subtracted from the "severance" amount.
@kp Standard package In US is 4 weeks for first year plus one week per additional year, capped at 26 weeks. Notification period (if any) is subtracted. Besides it isn't really a "severance" as it's conditional on you waiving your rights to any litigation. The good thing is that for this reason it doesn't need to be reported as severance for unemployment insurance purposes.
You were offered severance? Nothing but a kick in the pants here.
@fb COBRA is a US thing. So it wouldn't be available in say Canada or Mexico.
@ae Did you elect and pay for COBRA? Region?
@eb COBRA WHAT??? No cobra in N.A.
@av Oracle pays the first month of what??? Not in N.A.
@eb LE pays for COBRA? Where and when. My cobra cost is 1400$ mo.
@e0 No point in signing up for COBRA if you have Medicare.
I got my severance, but as said before, COBRA (which LE actually pays for) can be taken only so long. I think I am past the COBRA enrollment period or I am paying for a month that i am already past. whats next? marketplace? Even with all these problems, not sure
I would go back if asked.
@d8 I'm fortunate in that I qualify for Medicare. that's an interesting process, signing up for that and actually using it at a doctor's office (do you want my Medicare card or my Medigap card? I give them both. The deductible is pretty low in my so far limited experience.
I briefly considered ACA, but I am familiar with the deductibles from when it first came out, so that was a no go, and with the questions about subsidies up in the air... I don't want to pay those premiums for the cr-ppy deductible.
ALMOST signed up for COBRA, but saw what the monthly payment was going to be and said "he-l no!" Which is too bad, I loved my coverage, but oh well.
@av The first month subsidy only kicks in if you, the ex employee, sign up for COBRA. If you only want COBRA for your spouse (say you qualify for Medicare) you lose the first free month.
Also, I checked ACA plans for my spouse. The best ACA plans available in my area have huge deductibles ($4000+) and are inferior to the UHC plan offered in COBRA. They also cost 40% more. Yeah you can get an ACA subsidy if you have the right numbers (income, dependents, etc.). We did not qualify for subsidies. Anyway, given the current budgetary climate it appears that the COVID era subsidies are no more.
Good luck getting expenses. I am owed $1,300.
@ah Oracle pays for the first month. Will move to exchange after.
Yes, got it a week after signing.
@ae Lucky to afford cobra. It’s insane.
Signed on 11/3, haven't received anything yet. COBRA is already active though.
Yes. Very fast after signing
According to the email, payment will be made three weeks after the acceptance of severance
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