I'm sorry if this is a stupid question, but this is my number one worry.
3 replies (most recent on top)
I believe you would still be covered by Schwab benefits the 60 days warning before the layoff happens. Then COBRA would be available...but it will likely be cheaper to buy it on your own.
One of the least d-mb questions on this board, thanks for prior post giving sound explanation
You have a couple of options.
First is COBRA, which guarantees you the right continue your existing coverage. Schwab gives you a lump sum to cover a portion of the COBRA payments, which can be pretty high... total benefits could be $1000+ for a family, depending on what you are using right now. Not sure exactly how much that lump sum would cover... today Schwab probably pays like 85%.
Second option is just get your own insurance. You can go to heatlhcare.gov to check out what plans are available. If you are single, or you only have a spouse, and you are reasonably healthy, you could just opt for the lowest plan for catastrophic health care... out of pocket would be sky high, with a large deductible. If you do need better coverage, you can also explore whats available for full care with just copay or low deductible. I think generally, the plans will be lower than COBRA.
Hope this helps, and good luck.