Thread regarding GlobalFoundries layoffs

Cobra Insurance

Layoff was in June ( EF) , received the severance in August. Just received the Cobra Insurance info., We have to pay Global for the Ins ( Health and Dental, 1,360 a month for the 2 of Us. They should have just kept the severance pay.( glad We kept it in the bank) GloFo just keep on giving.Merry Christmas 🌲

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Post ID: @WHZYVkr

3 replies (most recent on top)

The last post is correct. For the June layoff the Cobra premium is paid through 12/31/18 if you signed up for Cobra. It was not automatic but the instructions were in the package and the GF cobra site. The coupons you just received are numbered and you have the option of extending coverage at your cost. That too runs out. There are a few places to check for better coverage, marketplace being one of them.

Best of luck to you going forward.

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Post ID: @WHZYVkr-hzy

My understanding is GF pays for the period they committed with premium ( 3-4 months?). Once the period is done, you have an option to pay the 1360$ and continue the same insurance (which is of course expensive). The other option is to go to Health insurance marketplace and get insurance which will be lot cheaper. If you have attended the Department of Labor (DOL) orientation session (not sure if you had one,- for the August layoff- there was one), there was a discussion regarding this. You can contact NY State DOL for more information/support. Good luck!

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Post ID: @WHZYVkr-mwy

You don't have to pay for COBRA you know. Company health benefits we're always part of your compensation, you just never appreciated that

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Post ID: @WHZYVkr-nty

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