Thread regarding Wells Fargo & Co. layoffs

Does anyone know if having a informal or formal impact you receiving ur severance

For those that say cobra is expensive I want to ask if you have seen an ER bill lately.

Provided you don't take a lump-sum severance, WF will pay its part of the insurance premiums, like during you employment or notice period. I am on severance now and can confirm. After severance you can do COBRA, but you will be paying both portions and would be better off shopping on the marketplace unless you already met your deductibles or OOP max. I will be switching over to my wife's insurance after severance ends.

I think the question not answered ... after 60 day notice, but before end of severance payments, does WF still pay part of the insurance benefit, or is the displaced person on the hook for full cost of keeping insurance/dental?

You receive medical and premium is deducted from biweekly severance payments. if you don’t wanna pay for that, take the lump sum payout.

How do you "know" your future layoff date ? !..... doesn't sound quite right OP

Forgot cobra. I'd rather pay cash to do to a doctor than pay those premiums.

COBRA is so expensive.

notice - 60 days. insurance in effect.
after notice period - 2 wks of sev for each year of service - minimum 8 weeks (so if you are less than 4 yrs on board, you still get 8 wks)
no company paid insurance after notice pd. you can pay full insurance premium (wf share plus your share) via cobra for 18 months after end of notice pd

The short answer is Yes.
When you receive your displacement packet, one of the items is a FAQ for displaced employees. There is a section on benefits.
Terminated employees who are receiving severance pay are eligible to continue to participate in the company sponsored benefit options as long as you continue to pay the required applicable contribution or premium which will be automatically deducted from your severance pay - they will list all your currently enrolled plans.

Once your severance ends, you will have options for COBRA, and other benefits like life insurance, AD&D, and legal - you will hear directly from the companies writing those policies.