What are they doing with benefits like medical/dental/vision insurance, etc for those being rif'd? Do they end right then? Continue to the end of the month? Till the end of the severance period? I don't believe I or my group will be affected, but making plans, just in case (always have a plan).
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From investopedia:
The Consolidated Omnibus Budget Reconciliation Act (COBRA) is a health insurance program that allows an eligible employee and his or her dependents the continued benefits of health insurance coverage in case that employee loses his or her job or experiences a reduction of work hours.
Is the CORBA insurance applicable for idc employees?
Its COBRA. Only for US.
Is the CORBA insurance applicable for idc employees?
I was laid off LONG ago, long before Oracle, and signed up for COBRA. That lasted a month. It IS insanely expensive which is very convenient when you're unemployed and your sole means of support.
I hear it is way expensive
COBRA not CORBA but yes
CORBA is the insurance you have now except that (1) you have to pay for it yourself and (2) you do not get the subsidy Oracle was kicking in. I was paying $1,000 per month until the ACA let me buy my own policy. Without the ACA I would have been excluded due to "preexisting conditions" but since CORBA is a continuation of your existing plan, those restrictions do not apply.
I had my benefits for a month and then opportunity for COBRA. I elected to keep vision and dental, but got separate medical because COBRA medical was too expensive. Good luck to you.
you have CORBA. Basically it's the same insurance you have. it's just being extended after you get laid off.