I'm considering the severance package but am wondering if anyone knows what subsidized Cobra means? I assume our bi-monthly payment towards health insurance would dramatically increase? Especially when a family is on your account?
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@ag thank you .. this is the answer
As one who was laid off in June, I believe what they mean by subsidized cobra is the company pays its regular contribution during the Warn period and then whatever extra time you may have dependent on years of service or level. After that you pay 100% of insurance cost for up to 18 months, at least in NY. During the subsidized period your contribution remains the same as well as coverage levels.
In simple terms: Unaffordable and most people forgo insurance all together because of that
cobra is astronomical- full price basically
it's basically a leftover law when we couldn't get new coverage for conditions etc ..no marketplace -and wanted or needed to continue the same policy
but if they subsidize it by a high percentage it could be different
the marketplace for ACA is california is my choice if this happens
yes you are basically paying for it all yourself out of pocket. I'm not aware of the exact plan details but I had cobra offer from another job several years ago where i was let go and simply forwent coverage because I could not afford the payments.