Thread regarding Oracle Corp. layoffs

COBRA or ACA aka Obamacare (Covered California) ?

Can someone, who has gone through recent layoffs in CA, shed some light on logistics, and pros and cons of healthcare coverage through COBRA vs ACA (Affordable Care Act) aka Obamacare ?

  • I understand that Oracle will pay for one month of COBRA beyond termination date, specifically till end of Nov, for those who got WARN notice effective 1st Sep and the termination date is end of October.

  • When and what paper-work can one expect from Oracle HR to be able to sign up for

  • COBRA

  • proof of coverage to avoid gap in coverage and not get nailed for / by pre-existing condition coverage, etc; although, I think. due to ACA one need not worry about none to limited coverage

for pre-existing condition.

  • In general, what is better : COBRA or ACA :

for member + spouse

OR

member + spouse + a child ?

  • If Obamacare, how does one get dental and/or vision coverage ?

Thanks in advance

by Anonymous
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Post ID: @OP+PVEMRqz
Comment! It's anonymous!

3 replies (most recent on top)

This is what I did. Laid off in July. Started paying COBRA in Sept. Got new job in late Sept. New company's plan has a 30-day waiting period and $2000 deductible. Have already met my deductibles w/Oracle's UHC plan and I need iron infusions. So rather than start a new plan, I'm paying COBRA through the end of the year. Specifically because my son's medication is $350/mo without insurance and I need iron infusions at a few thousand a whack. I did the math over and over. It's minimal savings to go through a complete overhaul of my insurance. Also looked at ACA. Not affordable this time of year with huge deductibles. For me I might as well pay out COBRA until next year. Open enrollment is happening now for COBRA so you can change your selections (like don't pick dental or vision to save a little)... Hope this helps.

by LifeoutsideofOracleisactuallygreat!
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Post ID: @4tar+PVEMRqz

You're right that Oracle will pay for a month of coverage after your termination date. As for what's "better", that really depends on what your medical situation is, how much you use health care, and what prices on the ACA exchanges are. Those vary depending on your age, how many people you're going to be covering, and how much coverage you want.

COBRA locks you into the health care insurance you currently carry, so if you want to save money by switching to a plan that covers less than what you're currently getting, your only option is to switch to an ACA plan.

On the other hand, Oracle is self-insured, so if you have some expensive treatments you've been putting off, and you want Larry to pay for them, COBRA is one way to do that....

by Anonymous
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Post ID: @2mqp+PVEMRqz

Just call Blue Cross Blue Shield of your state and get an individual policy. They are as good as any Oracle or other company policy, the price is the same, and you will be in control of your own health. I have never opted into Oracle's health care system, nor will I ever. Don't let "benefits" fool you. They are anything but a false shackle.

by Anonymous
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Post ID: @hmd+PVEMRqz

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