Thread regarding Southwestern Energy Co. layoffs

This thread has some interesting information. So I called Discovery Marketplace to gather more information.

First, if you have already enrolled in COBRA, you are not eligible for Obamacare until their next enrollment period (Nov. for Jan 1 coverage). The exception is if you have a life changing event; get married, have a baby or move.

Second, the representative said depending on your situation, sometimes Obamacare is less expensive. Like the previous poster, I am only covering myself (not couple or family).

Third, in order to reduce premiums, you can see if you qualify for a "tax credit". For this, you need to consider how much you were paid during 2016 (up through 3/22/16 for most of us), unemployment benefits you expect to receive (up to approx. 6 months), and any other taxable income you anticipate receiving.

For an individual, if you estimate more than $40,080 of gross taxable income, you will receive no "tax credit". Remember, that gross severance pay should be included in your calculation. For anyone who had been at SWN for any length of time, this in itself will likely wipe our eligibility for a tax credit. You are still free to shop for alternative health insurance, but it will be at competitive rates whether through Discovery Marketplace, COBRA or healthcare.gov.

I had already enrolled in COBRA, and as it turns out was a cheaper option for me because I had no tax credit, but I will review again in November if I still don't have new employment. Under a scenario of next to no taxable income, Obamacare will be highly useful (assuming rates don't change for 2017).

I decided to post my findings in case it is helpful to others who have not yet enrolled in COBRA. I called the COBRA help line 3 times before enrolling and never once had anyone offer to do a comparison. The representatives are suppose to. So if its not offered, make sure you insist that provide you with comparison assistance so you can make the best choice for your circumstance.

My COBRA was going to be 480/month. I ended up with a UHC "Gold" plan (so same doctors covered) on the marketplace. Its a PPO, $0 deductible, same co-pays as SWN plan, for $325/month. It may be different for families, but I've yet to find anyone I know that chose COBRA over one of the marketplace (Obamacare) plans.

I haven't done the comparison, but did notice a couple of things in the COBRA package.

There is an option for Clinic, which is the CareATC facility. SWN was paying this so employees could have an onsite care system. I don't know if there would be any benefit to pay for this since I am no longer on site.

There is also an option for FSA (which I had already maxed out). Note that this is no longer has a pre-tax benefit, so I don't know why anyone would select this option.

As far as the comparison to COBRA, I would be fearful that I might lose the network of doctors I use, plus I use vision and dental. Maybe someone could shed some light on vision and dental under O-care.

I was a little peeved at how late the COBRA enrollment package came. I called to do the enrollment online. I had to mail in the payment, so I had to cancel appointments to avoid any coverage issues. My appointments are hard to schedule, so this was a huge inconvenience. To make an online payment was an additional $20. So I mailed in the check and am waiting on the new insurance card.

Yes, it says so in your COBRA package -- page 4 of 12, Health Insurance Marketplace. It's worth checking out to see if you qualify for any of the tax breaks offered in the marketplace. On that same page 4, there's a whole paragraph about "What factors should I consider when choosing coverage options?" that details what you may gain or lose by choosing COBRA or another plan, such as doctors in network, prescription coverage, etc. Page 11 of 12 in the package mentions the Discovery Marketplace. I haven't checked that out yet but it looks like it's part of the general Health Insurance Marketplace, but offering alternate plans by United Healthcare? There may be an option there to reduce costs by increasing your deductible or deleting some coverage options?

After looking it all over, I'm taking COBRA. All insurance when paying on your own is expensive, but COBRA offers the best coverage for the money and no change in doctors, medications, etc.

I think yes -- I researched out of Texas and found rates were best for COBRA.... Not political statement; but best I can tell rates are now about the same across board -- approximatelty 1000-1200 per month for person and spouse .... Also and I am not sure of details you are required to have coverage -- otherwise penalty is about same cost as insurance . In effect a tax of 10,000/ year

I am going cobra so check details !!!