Curious if severance is paid out in one lump sum. And if not, is the COBRA subsidy the full severance period?
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@et I thought we only get coverage for the first 28 days then we have to go on COBRA?
Make sure you read the fine print. For people whose severance extends beyond a few months, they have a clawback for any other income you might earn.
Once you agree to the terms you receive your checks, as normal every two weeks just like being on payroll. Your check will reflect a higher number because you will no longer be enrolled in 401k program.
Your health benefits continue for as long as you have severance. You have the option to reject the health benefit — let’s say if you go into spouse health plan. After your severance term is completed, you get the option to continue your current healthcare plan via cobra. Spoiler alert: it’s very expensive, but if you’ve met your deductibles and stuff I would advise you keep the cobra going through the end of the year. The Obamacare exchanges are pretty bad and Trump big beautiful bill made them worse and more expensive.
No and yes