Cobra is outrageous. I was under the impression that BBB was covering part of the cost, a subsidy. In my packet it does not list a subsidy. Does anyone have a subsidy?
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Bed Bath is paying a portion of Cobra thru Nov. 18th. Please call Cobra and have them go over it with you !
Once you are laid off, you become responsible for the full amount of healthcare coverage. You can choose to keep the same coverage through COBRA or you can switch to a plan through the Federal Health Marketplace or your state's local Health Marketplace (if they have one).
Depending on your annual income, the health marketplace can be a more affordable option with similar coverage to what you had through BBB. Depends also on your health needs (doctors, prescriptions, etc). But you have some time to do the research before you need to make the decision.
the initial letter did not have the bed bath subsidy, but if you log on to cobra you will see they are covering most of the cost and you are only paying what you paid when you were employed by them. you will get a letter soon that also includes the adjusted cost. at least that is what happened to me.
@gth+1iTyP4nx here again. Just a note that the $500 per month figure for COBRA is based on a high deductible plan that I have at work. If I had a Point of Service or PPO, I think it would be more, possibly in the range that was mentioned of $2k. Crazy expensive.
Agree with gth and have gone through this at a social service agency. But I know nothing of the severance promises made.
Cobra quoted me $2400 a month for family plan…BBB did not list a subsidy but according to the severance package, I was u get the impression the cost of cobra would be the same as what I was paying while
Employed, for the period of my severance which is 10 weeks
I don't know about BB&B, but my employer covers part of the cost of health insurance as a benefit while I work there.
But, if I'm terminated, for whatever reason, and I elect to continue with COBRA (it's a good deal), then I would have to pay the full cost.
Even so, the cost would be around $500 a month for a family of 3. But, I think that's better than most plans out there. (But I don't really know..)