does anyone know if health insurance is included with a severance package?
7 replies (most recent on top)
@ay Jesus Christopher. Thats what iv heard. And apparently based off salary you might only get a handful of taxed paychecks or possibly nothing if youre hourly. Severance is a privilege depending on rank and not sustainable long term. Its not standardized like a lot of folks think.
When I got the boot, my severance agreement allowed me to keep the company plan and to continue to pay my (then) current employee rate. However, the severance period inself counted towards the eligibility period for being on COBRA, which is 18 months.
So after the severance ran out in 6 months, I had to pay Comcast the entire amount of the coverage. And one year after that (the 18th month of being on COBRA), I had to find my own coverage. It was a down market and I was out of work, paying out of pocket, for almost 3 years.
@a4 👍 thank you 🙏
@a3 someone posted the policy in an older post. Current policy for Sr Mgrs and below is based on salary. $125K+ is 16 week base which is highest base. When 1 week per year after 3 years.
@a1 Do you know how long severance is typically?
@a1 thank you for the quick reply . appreciate it
Yes. It will continue BAU meaning you pay your share, company pays their during term of severance. You also keep courtesy discounts through severance.