Thread regarding Intel Corp. layoffs

COBRA is no bargain

Unless Intel is paying the COBRA benefit, it isn't very attractive. COBRA rules were put in place back when insurance companies had pre-existing conditions model. Congress wanted to be sure if you get fired, you can at least not lose your healthcare insurance (for a while).

Now that we have Obamacare, government a) mandates insurance companies against pre-existing conditions, b) subsidizes the premiums for almost half the population. So, outside insurance costs less then paying for the COBRA plans.

by Anonymous
| 1612 views | | 3 replies (last November 3, 2022) | Reply
Post ID: @OP+1jvYyQnA
Comment! It's anonymous!

3 replies (most recent on top)

COBRA has always expensive because you are paying the part that the company previously was paying for. The current severance package includes 12 months of COBRA so you can stay on your current plan and have a lot of time to find a new one.

The OP is going to be in for an unpleasant surprise about both the coverage and premiums for marketplace (Obamacare) plans. The subsidies for half of participants come from surcharging the rest of the participants as well as employer-sponsored insurance plans and you won't likely be eligible for a subsidized plan even if you remain unemployed for a year.

by Anonymous
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Post ID: @1xdi+1jvYyQnA

Not very good. Obamacare plans cover more then your plan does and is cheaper. It's hard to beat a government subsidized plan. COBRA in most all cases is the least affordable option, everyone knows that.

by Anonymous
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Post ID: @pnj+1jvYyQnA

That depends on what you need covered and what insurance you have. Type 1 diabetic my entire life. I pay $452 USD premium, no deductible, no copay for a HDHP that covers $900 USD/Month in durable goods and insulin. No other insurance is covering to that extent. Max out of pocket for everything else is $3200 USD. Pretty decent if you live in the US.

by Anonymous
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Post ID: @ajy+1jvYyQnA

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