ConocoPhillips is 'handling' my layoff appropriately. Of course, I believe it was stupid to let me go in a business sense, and it has harmful consequences on my life and my family, but compared to what happened in some other oil companies, they behaved humanely.
As many of you though, I am pissed off by the priority given to stockholders dividends, and Ryan's salary...
The way ConocoPhillips treats its employees in this downturn will be remembered when they need to start hiring again.
If you decide not to take COBRA coverage, you can enroll in a Marketplace plan instead. Losing job-based coverage qualifies you for a Special Enrollment Period. This means you have 60 days to enroll in a health plan, even if it’s outside the annual Open Enrollment Period.
The severence offered at COP is crap. Che k your sources and look at what other companies have given the ones they have laid off.
I would double check your information. You are allowed to join the Marketplace for healthcare insurance at anytime you have lost access to coverage. It's true there is an open enrollment period (early November thru January 31), but the law has a provision for the unemployed, including those who lose access to COBRA. Have a question, go to www.healthcare.gov and call the 1-800 help line. Interested to see how much your premiums will cost thru the Marketplace? Go to the webpage and search for 2016 plans and prices. Premiums vary by State, number of dependants, estimated annual wage income.
For those interested, cannot move from COBRA to Healthcare Marketplace mid year so decide carefully to either continue via COBRA or Healthcare Marketplace.
I'm sorry to learn COP didn't subsidize the COBRA medical insurance premiums at all. That's a shame, but at the same time it's not a requirement by law. All I can attest to get Chevron did subsidize the COBRA medical for 6 months. Pretty generous and that helped me a bunch. My spouse had a scheduled medical procedure a month after I was laid off. But now I have a good medical policy through the Marketplace. Anyone at COP who was laid off should look into this great help. Good luck all.
ConocoPhillips did not subsidize health care for the individuals involved in the layoffs. The coverage for an individual is over $600 per month with a $1400 deductible. So pleased to move to alternate coverage via Healthcare Marketplace with a $250 deductible, $10 office visits and $150 per month. I deferred visits to the doctor due to the deductible as I was $200 into the $1400 deductible end of 2015.
I was laid off at Chevron. I continued my medical coverage through COBRA for 6 months, since it was subsidized by my former employer. I paid the same $303 per month premium as I did when employed. When that ran out after 6 months, I enrolled in the Healthcare Marketplace (www.healthcare.gov) to begin coverage Jan 2016. My new monthly premium is only $58.42 for me and spouse. Same coverage, although my new insurance is an HMO, not a PPO as before. Nonetheless, I think my insurance needs are met with my new coverage. No annual deductible. Only a few low co-payments for certain services, but the annual out-of-pocket max is only $3,800 total ($1,900 for me and $1,900 for my wife). That's a bargain. The list of participating PCPs, Specialists, and Hospital facilities is extensive. Two of our favorite Specialist Doctors accept my new insurance plan.
Healthcare dot gov. COBRA is a good option if you have reached the annual deductible. COBRA was the better option until the end of 2015. The Healthcare Marketplace is the better option for 2016. Yet to find a new job and a new healthcare insurance.
I would have reached my 35 year anniversary next Tuesday. I am sorry I missed that.
Sign up for Obamacare! That's what I did! Seems to be working so far..my premium was only $39 last month. Preventive checkups are free! F Cobra, what a rip off. SCAM. Apply for food stamps. If your only income is unemployment you should qualify. Hey, its $400 per month!
Yes, COBRA is terribly expensive so I can understand your frustration. Also, an ever-changing story from the benefits and HR people was not great to deal with. When they have a layoff like this, they need a dedicated number...or push "7" if you've been pushed down the laundry shoot :) That way they could have one number with hopefully people who have the right answers!
Being one that was layed off with 9 years with COP and over 55, not eligible for company paid assisted insurance except COBRA. It has been a pain in the ass for health insurance. I am happy for those who were able to walk out the door EOI as I would have put in if I had 10 plus years with COP. That being said, I do not think my release was handled very well by HR & COP Management! That is another story all by itself!
For those of us who have the years to get the maximum severance, it is great! I understand that many didn't have that cushion to fall back on though. I also pushed the EOI button, so would be crazy to complain about getting the boot :)
The severance offered is a rarity these days--as well as company pensions and retiree medical. I hope none of that changes if/when there are subsequent layoffs, but I wouldn't be surprised if it did given the dire financial picture in oil.
Not everyone had as good an experience as you did ...