Layoffs have begun in Houston today and I am bracing for the worst. All affected so far are in my thoughts and prayers.
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At what point does ConocoPhillips send the severance check? The paperwork is long since signed and returned to ConocoPhillips. And the educations $2000 awaits a response from ConocoPhillips.
Why doesn't anyone mention the 3rd option for insurance? Everyone who is able to retire should be able to have retiree insurance. Correct??
To answer the question asked, in light of the lack of adequate documentation for ConocoPhillips the P66 documentation is a good start. The P66 and COP benefits are very similar.
Why would we reference a Phillips 66 document on leaving the company when we're not working for Phillips 66? The benefits are not necessarily the same.
https://www.healthcare.gov/ Check it out. If you don't have a "condition" which requires your existing medical professionals, then look at this before COBRA. IF this works for you, make sure you don't purchase medicine, etc. on COBRA or you will be obligated to pay for your COBRA coverage. It is very expensive. You can apply for unemployment benefits immediately. If you receive a "package" they will enroll you and suspend payment until you qualify. It's easier to do it sooner rather than later. Good luck.
http://hrcpdocctr.phillips66.com/HR_P66_Comm/Benefits/PSXLeavingtheCompanySummary.pdf
The P66 document is the best resource to date.
http://hrcpdocctr.conocophillips.com/Documents/HR-Benefits-documents/AE/EE_Handbook.pdf
section L
The information provided via HR at the layoff is incomplete unfortunately. The documentation noted HR and the HR business partner as resources but neither have complete information. The paperwork provided at the layoff are important documents for unemployment compensation. Process the unemployment application the day after the last day on payroll. Two options for medical in the US -- healthcare.gov and COBRA. Both options include a 60 day windows for a decision so explore the options immediately. For a single individual COBRA is a good option. For a family healthcare.gov is a good option. The paperwork will arrive in the mail 7-10 days after the last day on the payroll.
Good luck to all.