Are you seeing the rates being subsidized ? The paperwork said cobra will be subsidized to what one paid as active employee for the x weeks of severance. Cobra paperwork has a scandalous $ for indi+ family. Any leads on how you addressed this ? TIA.
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@1m2 The COBRA clock runs for 18 months concurrently with severance. COBRA doesn't due anything until after severance. During severance, you pay half and the company pays half. You pay half your amount twice a month with every two-week pay check. Once severance ends, COBRA takes over. With COBRA, you pay your share and the company share each month and all at once. Ex: insurance is $1000 a month. Normally you pay half ($500) and your employer pays half ($500). Since you get paid twice a month, each paycheck has $250 taken out for your share. With COBRA, your insurance is still $1000, but you pay your $500 plus the $500 normally paid by your employer. You will be invoiced once a month for your insurance for the full $1000. FYI, this is going to kick in for me next month.
So cobra will be subsidized for the whole duration of severance? If I get 50 weeks of severance, Fannie will subsidies cobra for 50 weeks ?
@166 isn’t the whole point of cobra to continue getting the same subsidy from your employer? At least for the period of time (in this case through the severance end date)?
@OP COBRA will be four times your normal pay check amount because 1) you pay both your half and the half usually paid by the employer, and then doubled because you only pay it once per month instead of twice.
I called Fannie Mae HR Service Center to request that they submit the right code to Health Equity so that the premium reflects the subsidy. I also opened a case on the Health Equity side so they will send a note to Fannie Mae HR. Working both angles to get it resolved. Meanwhile I was told to sign-in/register with Health Equity, make my Cobra elections, and pay the Cobra premium by the deadline regardless of the current amount and wait for things to adjust if necessary.
It’s confusing as fu-k. Went through it last year. They did cover it, just wasn’t clear… not sure if this helps but just know there’s like a paperwork gap and it’s confusing.
@as mail received 2 days ago.
@OP where did you get the info? I still haven’t received anything. I called Wage Works and they said they didn’t have my info.
Had a same question. The note said the price does not include the subsidy. Even called wageworks. They said maybe a timing issue (i am hoping it is). Hopefully soon it will reflect the FM subsidy.