In the US, does Oracle discontinue our medical insurance the same day we get the RIF?
Does anyone know how much COBRA costs per month in the US if I need to insure my whole family?
And does COBRA cover medical insurance only, or vision and dental insurance as well?
The GOP plan will fix Obamacare. You won't be able to afford healthcare and the government won't help. If you get really sick, just go to the ER and they have to treat you. They then have to charge everyone else who has insurance more to cover for those who can't. This drives up premiums making it more unaffordable causing more people to not have coverage. This cycle goes on until no one can afford healthcare and the system implodes.
COBRA was the wonky acronym for the legislation that created this system.
Consolidated Omnibus Budget Reconciliation Act of 1986
Any resemblance to a deadly snake in the grass is purely coincidental!
Did they choose the name COBRA on purpose? It sounds scary.. that too in all caps!
LaAKZ0v-1ate
No, sh--ty management is. See, engineers pay for their piss poor management.
Here is a little know fact about COBRA. You have 60 days to decide if you want to purchase it then you have up to 45 days to pay. So if it was me, I would not take it until there is a health or fiscal reason to purchase it. So provided you never make a claim until you gain coverage with a new employer, you can sort of have coverage for 105 days without paying. Of course there are some flaws in this strategy so you have to decide how comfortable you are by using this strategy.
As much as insurance costs companies, I don't know why all of them (minus the health insurance, pharmaceutical, and health providers) are not in favor of single payer healthcare. Even if they had to pay a little more in taxes, that has to be cheaper than health insurance costs. The system is about to implode as people and companies can't afford these healthcare costs. It's out of control.
-1dnk
you're whats wrong eith this society! File bankruptcy and make everyone else pay for your lack of planning!
COBRA is only expensive if you don't get sick. No one is forcing you to take COBRA.
Call your benefits department and ask them what COBRA would cost for your plans, and if you are covered to the end of the month or just to your RIF date, or some other date.
Also ask when you have to say you want COBRA, vs when you actually have to pay the COBRA premiums.
Also understand that one of the biggest benefits of medical coverage is that the procedures only cost the negotiated rate: if you have no insurance, the doctor / hospital charges you whatever they want to. Best illustration of this was several years ago - I think in Oakland - some family finally got medical coverage, son had surgery, bill was $4,000, insurance paid some, family paid some. Insurance investigated further, determined that the son's issue was a pre-existing condition so insurance company was not responsible for any surgery costs. So the hospital billed the family for $17,000, yes over 4x the original cost.
They do however calculate the amount to the day, so if you get laid off 1 Jan and get a job 15 Mar, you would pay for 6 weeks of Cobra (assuming they still pay the first month).
Last round, Oracle paid for a month of Cobra.
@@LaAKZ0v-jfl too right. Cobra is a joke. Only 2 countries don't care for the health of their citizens - other in N Korea !
Cobra is really expensive. You pay the entire premium that the company paid for you while you were employed. During the last recession, the government helped pay COBRA costs for those who were unemployed. But that was a special case.
It's a disgrace but we have ourselves to blame by not voting in a single payer system in the United States.
$2000 - $3000 per month. Jesus, s---s to live in the US.
Your health insurance should be good till the end of the month. COBRA for the entire family for medical, dental and vision is $2000 - $3000 per month depending on which plan you have