What I haven't found yet is whether the 47 week max cap is adjusted in light of the extra 8 weeks.
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It’s really nice if you can just hop on your spouse’s insurance and pocket the premium.
0_ERP + 1_ISP = IERP.
So this really isn't much different than 2016 ACT. The retirement severance is what got all of the experience to leave in 2016. Intel will really be a shell of its former self by the end of Sept. I doubt many people who qualify for this will stick around.
They should have left the SERMA alone and kept contributing to it, that is what it was for. Very short sighted.
Yes. The 8 week extra is on top of the 47 weeks. Saw that in the Q&A.
Also there’s an additional $20K in a healthcare account. So adding that to the 18 month Cobra gets you about 2.5 years of healthcare covered. Pretty attractive push out the door.
Intel paying my cobra with family coverage equals 1900.00 a month!
It’s going to be half that
Good enhances package that … given these folks are sat in huge 401Ks , this is great - let the exodus begin !
If you need to find a job after leaving Intel on the retirement package the cobra will be the most important part of the package. If you qualify for rule of 75 you are in your 50s or older. This gives you 18 months to find a job before a huge out of pocket expense starts. Age discrimination exists in hiring. Your age can be estimated by your resume. The job market is tight. Finding a new job will be a full time job in itself. Even if you have accrued SERMA you can burn through that fast if you have to start paying healthcare without a job.
Cobra = paying to stay on your current plan after leaving a job. It is better than Obamacare. In this case Intel is offering to pay for cobra. Can be something like $1500 per month for a couple.
Is cobra better than obamacare?