I’m currently evaluating taking the enhanced retirement. One of the several vague areas is COBRA. I seem to find conflicting interpretations. Intel says it’s an extra 6 months of COBRA for a total of 18 months for the enhanced retirement package. What is not 100% clear is if that means COBRA is fully paid by Intel or if it’s a 50/50 split with the retiree. I’m hearing it both ways and nobody seems sure. Also, if it means ONLY the retiree is covered and NOT the retiree’s family. Same problem. I hear it both ways. Will someone please reply back with some clarity and best case a link as well? Thanks in advance.
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The problem is that when they say “100% paid” it’s not clear if they mean that Intel will continue to “100% pay” the Intel HALF of premiums for 12-18 months (retiree also pays half) -OR- does Intel mean they will “100% pay” the entire COBRA premium (retiree pays zero). The difference is substantial when doing a cost analysis to help with decision making. I just want to know what to expect. Everyone I ask, including multiple HR folks, either says one or the other or that they don’t know and will have to check on that. I’m sure they are being bombarded, so I don’t expect anyone to get back to me. I do hope that enough people ask that they are compelled to update their tables and FAQ docs.
The package up until now provides 100% paid for cobra for 12 months. I assume the 18 month enhancement is also fully paid, or else it’s not really an enhancement, right?
There are several details HR does not explain which changes benefits:
Is everyone 65 or older?
What if some in family are less than 65?
What about dependent children?
What about disabled children?
What if you qualify for intel retirement or if you do not?
What if you were receiving health insurance through a non intel spouse?
What if you are on a work visa?
etc. HR people are not qualified to answer all the different variables.
The fact that this is confusing speaks volumes. This should be be so simple and straightforward. But it’s convoluted. wtf make it simple
Keep in mind, you cannot transition from COBRA to Medicare without paying a penalty the rest of your life, that is not the case with any ACA insurance, which is also cheaper than COBRA.
Seriously, ask your hr rep. Don't rely on anonymous people's interpretations.
“ The cobra works exactly the same as your current coverage for 18 months.”
So then are you saying that Intel will not pay 100% of the COBRA premiums and it will be exactly the same as currently in that Intel and the employee will split the COBRA premium costs?
Thank you @csi+1tSsc826
The cobra works exactly the same as your current coverage for 18 months. It covers whoever was on your plan at time of your intel termination.
hang on, let me log in from my work laptop and send it to you