Just wondering what happens to health coverage for people who are laid off?
I'm pretty sure that being in his late fifties, my dad's days at Honeywell are numbered. I'm trying to figure out what happens to his medical if he gets laid off, and if I should start worrying considering that he really needs it.
Thanks in advance for any info.
@3zhp. Not all veterans can qualify for VA medical insurance. It depends on what years you served as some years are excluded. It’s not right because all veterans enlist to serve their country, but the country does not serve all veterans.
I believe if you served during a time we were not at or involved in a ‘conflict’, you are ineligible for VA medical benefits.
Is your dad a veteran? he could than qualify for VA medical insurance. If his salary is under about $35K should then be free. I signed up on line while still on severance and was denied. After the severance was over you then file a Hardship Form because of his lower income. No dental though cost was $24 a month on COBRA.
Best not to get Cobra and purchase a short term
Policy to suit your individual needs. Very few good physicians are contracted with ACA insurances. You will be stuck with Abrazo hospital affiliates. I did my homework.
Good luck to your father. Cobra is hard to afford when you lose your income. I would definitely check other options. I’m assuming your dad has some health issues since you say he ‘really needs it’. It’s scary, I know. As a single income family, I am facing the same thing. I am 60 and just got laid off here. Not sure yet what we are going to do. S---s
Never thought I’d look forward to turning 65!
I currently am on COBRA. My premiums are about $550/month for a single person, including vision and dental.
Honeywell has ONLY catastrophic health coverage with no dental or vision - you're implying that he has "great" coverage now which isn't the case. Check how much bi-weekly deductibles are for level of coverage - It's corporate greed plain and simple...
If laid off, he will get medical coverage through the end of the month in which any severance is in effect. COBRA for 18 months beyond that, although marketplace coverage may be cheaper, especially if you have limited income (<64k/yr for a married couple).
I made it to age 62 before I got shown the door. I was lucky that I could get on my wife's insurance. I also got work as a contractor, which helped the situation. Good luck -- it can be a difficult situation buy your father will have some relief not being bullied and mistreated by HON's nasty management.
COBRA for 18 mos. is going to be very expensive. I was part of the WFH debacle and was out in October at 59 YO.
I called honeywell snd for wife and I COBRA was 1400/mo.
Health ins. was difficult even for two healthy people as ourselves. 3 months at a time is all they would sell me. Obama’s insurance was 2100 yes twenty one hundred a month due to income.
Finally went with a health share plan called Librety health share and we pay 299.00 a min fir non smoking no prescriptions health people.
Hope this helps, good luck
Your father can be covered by Cobra for the next 18 months. The best course of action is to go to the state healthcare marketplace. They will have both regular insurance brokers and Obamacare assistance. If he continues on Cobra a percentage of his insurance payments can be deducted if he can itemize. Better is to get the AHA insurance in which he might be eligible for a subsidy. If his income will be $20K or less he will qualify for ~$700/month subsidy. $50K or so he will pay full boat.