Does Oracle pay for the first month of COBRA 100% or the same percentage as if you were a regular current employee?
I understand after the first month of separation, you are 100% responsible for monthly COBRA premium, which can be $2000+/month for a family plan.
Assuming regular benefits stay until the 22nd, will COBRA start on Sept 22 and be free of cost for a month until Oct 22?
oracle covers the first month of cobra, after that you’re on the hook for the rest up to 18 months. it’s pricey, like 2k+ a month for families. some people look at the marketplace or jump on a spouse’s insurance once cobra ends. the policy hasn’t really changed over the years, except in rare cases where someone negotiated extra coverage. oracle is pretty stingy compared to other companies when it comes to severance + cobra.
You should locate a Health Markets rep or another broker for more affordable options.
When I was let go in a previous layoff, the first month was no cost to me (single, no dependents). Assuming its the same for family.