For those who quit, how long does health insurance last once you put in the notice? Is coverage through the rest of the month or only through the notice period? So if quit notice is given on September 1 would health insurance last through September 15 or September 30?
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Currently the government subsidy for Cobra which is part of the American rescue plan pays your payment in full but ends Sept 30th 2021. You can apply online but keep in mind just because it pre-dates when your coverage ends, there is a lag period from when you sign up and make a payment for it to show up with your provider. That means there is a period where the insurance may say you are not covered. You can usually work that out but the lag may cause some issues in the beginning. The Xom cobra site is https://www.wageworks.com/ Once you status shows you have left the company you will be able to setup the account. Benefits service will still help talk to the right people. Hope this helps
As noted in a previous comment, COBRA can be backdated, as needed, in case your bridging strategy is not settled.
@cqe+1cyCktBZ Thank you.
I’ve been told to be safe you want your last day on payroll to be the 2nd vs the 1st, just how HR paperwork happens I guess. In that scenario, you have your insurance “covered” for the full month. Ie your last day is September 2, for all of September you have the same coverage and payment as if you worked the full month.
@qma+1cyCktBZ Thank you.
If you quit in September your Exxon paid insurance will expire on the 30th of September. COBRA picks up beginning October 1 and continues for 18 months. It took a couple of months to get COBRA but the effective date was October 1. Hope this answers your question.