I'm looking at how COBRA rates are quoted and it almost looks like COBRA rates aren't geographic specific -- nationwide. (?) So they almost look CHEAPER to me (Northern California) than FTE rates. Am I mis-reading or can somebody confirm what I'm seeing?
COBRA rates: https://teamworks.wellsfargo.com/pdf/ABE_2026/RS_COBRA.pdf
@a3 No, it's more a 2/3 to 1/2 WF to employee breakdown. AT least that's what this year's enrollment process was telling me.
That rates page you linked doesn’t even stipulate whether those rates are bi-weekly? Monthly? Weekly? It mentions seeing the benefits book for more on cobra so maybe the book clarifies? I share your skepticism that cobra could be cheaper even if Northern California costs were diluted under any cobra national averaging…
No way COBRA is cheaper. Cobra is literally full-premium insurance, no employer shared expense. AND I believe Cobra always includes an admin (or ??) fee on top of premium.
Almost certainly you are mistaken. On average, Wells Fargo pays 80% of the full cost of your medical premium. So you are picking up only 20% as an employee. Under Cobra you will pay the full 100% plus a small administrative fee. They are significantly higher than employee rates.