Thread regarding ConocoPhillips layoffs

Suggestion for Those Recently Layed (Laid?) Off or Might Be Layed (Laid?)Off

If it hasn't occurred to you yet, and you fit the description above, go take care of any medical/dental needs while you can. Benefits expire on the last day of the month you were let go. Of course, there's COBRA if you choose to go with that, but you'll be paying a WHOLE LOT MORE. So, run, don't walk, to your nearest health care provider, And, WTF, why you're there, ask for a scrip of your preferred opiate, i.e.-Percoset, Oxycontin. Might come in handy to dull the pain!

Sincerely, though, good luck to all.

by Anonymous175610
| 681 views | | 8 replies (last October 10, 2015) | Reply
Post ID: @OP+DS4eYtI
Comment! It's anonymous!

8 replies (most recent on top)

LOL. Good post. The only improvement I can make over your last post is this . . . If you qualify for Retiree Insurance, it is even cheaper than Cobra.

by Anonymous175963
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Post ID: @1SYW+DS4eYtI

I am the OP, and I wasn't entirely correct. Ok, I was wrong! (ugh!) 635 pointed out my faulty reasoning. I did the math and yep, I didn't factor in the deductible. In my case, if benefits expired last day of this month, my best bet would be to take Cobra, as I have met my deductible and that "met deductible" would remain til end of year.Sure, I'd pay $1500 per month til end of year, but that "replaces" what was withheld from check plus COP contribution. So, yeah, I want to continue having coverage, so COBRA is my best bet. It really would NOT matter when I went to the docs, in Oct or after, as I'd still pay same copay. My apologies for my screw-up. Thanks, 635, for the redirect. But, I am standing by my suggestion for the painkillers.

by Anonymous175917
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Post ID: @1jzn+DS4eYtI

To the original poster, a whole lot more than what?

by Anonymous175745
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Post ID: @1b7H+DS4eYtI

Do the math. The deductible is key. Yes you an purchase a family plan for 1/2 the price of COBRA but the deductible is $10,000. For an individual or family that has met the deductible for 2015 COBRA is ideal. 2016 is another situation altogether.

by Anonymous175667
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Post ID: @1xvk+DS4eYtI

The cost for the same coverage is in excess of the cost of COBRA via healthcare marketplace. Estimator tools on the site. And the spend towards the deductible continues via COBRA but not via the new policy via healthcare marketplace. The other option is no insurance for you and your family. The coverage via COBRA a continuance of the existing coverage.

by Anonymous175656
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Post ID: @1MA1+DS4eYtI

so, lets review. If I get laid off this month, my benefits run out at the end of October. Then I have to start paying COBRA (thats $1500 per month). So, why will I be paying less for continued coverage?

by Anonymous175648
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Post ID: @1NDT+DS4eYtI

Enrollment starts November 1 for 2016 healthcare dot gov. For individuals in Texas and Oklahoma and other "Your state has not decided to expand Medicaid" states estimate income at $20,000 for 2016. Coverage starts January 1.

by Anonymous175643
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Post ID: @1JHR+DS4eYtI

Bad advice from the original poster as in most cases you will be paying a whole lot less for continued coverage until the end of 2015. The options are COBRA or Healthcare Marketplace or penalty. HDHP via Cobra monthly -- 1 @ $500, 2 @ $1000 and 2+ @ $1500. Healthcare Marketplace is of value if unemployment continues after 2015 due to the opportunity for a tax credit with lower income estimates for 2016. Use your best judgment on the penalty option (not recommended). The key is the tax credit for healthcare dot gov is based on the estimated income for the year.

by Anonymous175635
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Post ID: @1nkY+DS4eYtI

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