Do you get health insurance benefits after they lay you off?
8 replies (most recent on top)
Cobra is very expensive but untethered from the political issues surrounding the ACA marketplaces whose fate remains uncertain.
If you’ve been with this company for 5 or more years and are over 60, you can get extended cobra (called PEM or post employment medical) as a bridge to Medicare but it’s very costly.
As a PSA to all: COBRA may be activated retroactively up to 60 days. This may provide a two-month period of breathing room if you need to save every penny and don't necessarily want to enroll in a costly program you don't know you'll use.
For example: If you end up needing expensive medical care six weeks in, you could later elect to enroll in COBRA, as long as you do so before the 60 days is over. COBRA could then be used toward whatever medical costs you incurred.
https://washingtonhealthinsuranceagency.com/cobra-loophole-60-days/#:~:text=Here's%20where%20the%20%E2%80%9Cloophole%E2%80%9D%20really,see%20approach%20to%20health%20insurance.
@bq sorry I haven't had the pleasure of being laid off before. I wasn't sure if health insurance was a part of a severance package.
Ridiculously expensive COBRA.
Cobra but it's expensive. Apply for Medicaid if your state participates. Sorry you got hit in the RIF
Yes and they pay off your debt too. Ret@rd
No
I was offered COBRA but it was expensive.