New enrollment was a few weeks ago with elections to begin July 1st.Cobra is just too costly.How cruel and disrespectful to drop us from health insurance with such a short window.Benefits should have been covered for at least an additional month regardless of employment status.I have a family plan with accelerated coverage and a young son with medical necessities, this really hurts.
8 replies (most recent on top)
To my understanding, Macy's will pay for your medical plan for the next 3 months.
I saw 3 months of Employer contribution covered in the Separation Toolkit doc:
Frequently Asked Questions
Severance Pay and Medical Premium Lump Sum Pay
Overview
Q1. What severance pay is offered as the result of the job elimination?
The Severance pay offered is based on full years of completed service as measured from your most recent date of hire, as determined for non-retirement benefits purposes. See the Macy’s Inc. Separation Plan – Reduction in Force document which will be included in your separation packet for the minimum/maximum number of weeks of severance pay offered.
If you are enrolled in a company-sponsored medical plan, the company will also pay a lump sum equal to the company portion of 3 months of premium (the “medical premium lump sum pay”).
Thankful benefits stayed in force in May and June. Once you see how much our insurance costs via Cobra what we pay a week doesn’t seem so bad. Don’t be surprised if you go to work for a smaller company and see how much the employees are paying. It amazes me that so many have no clue on just how much Macy’s spends on our health care and complain how awful the coverages are. M paid out $15K plus for insurance for myself, spouse and child last year. For those leaving get ready for a shock.
My COBRA for one runs around $560 a month for medical, excellent dental and eye care. There is no insurance plan on the market, whether purchased privately or through the state Obamacare plans that remotely come close to offering the same coverage. It would cost a minimum of twice as much.
Would this person being using the extra $600 with unemployment that the Republicans, specifically Senator Lindsay Graham(SC) said he would let the $600 unemployment continue over his dead body. The $600, I believe ends in July.
I read the FAQ's and macys is paying a couple months of COBRA as part of the package.
Health insurance is very expensive. A family plan I was on a few years ago was well over $10K per year. Yes that is an interesting way to treat your employees. However Macy's is cash strapped and you know that they are trying to do everything on the books to save cash. That doesn't mean it is morally correct, but it is business.
I wish you the best of luck in your hard times!
There should be no problem covering your healthcare.
Use your xtra $600.00