If you get a severance package that includes Macy’s paying several months of part of your health insurance premium, when does that go into effect? Is it when you accept the package and for some time after that? Right now I don’t have any coverage because the severance package seems to include macys paying an amount for a few months in the future.
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You are on cobra the day after your term. You just have to pay for it when you get the bill.
2 words for Mr. G in his ivory tower along with the legal department and HR who made this decision on our behalf. Anal cancer.
@bgs+15PMsXAA: You're Correct.
So, Macy's essentially left us all with no health insurance during a pandemic.
So it’s some money and not assistance w/an insurance plan for 3 months. The money can be used to purchase it yourself.
Will not go into effect until severance is processed. The lump sum will be included in your total severance amount as a separate line item which will also be taxed. Given severance processing, you may be able to get cobra by September.
Colleagues who are currently enrolled in a Company-sponsored medical program and remain enrolled through the Separation Date, are eligible for an additional lump sum equal to the Company portion of 3 months of premium. NOTE "Company portion" will be substantially less than the insurance premium cost. You're lucky if the lump sum will cover just one month's premium.