If you are part of an involuntary reduction in force you can enroll in one of the ACA plans on healthcare.gov even if outside the normal enrollment period. I have been looking and some pretty good plans for a LOT less than COBRA is going to cost.
Can anybody confirm if this is true? It would be great news for me if it is.
There is typically a 30 day window after a "significant life event" to make changes to your coverage. This applies to most employer plans as well as ACA plans. A change in employment qualifies as a significant life event.
Depending on your years of service, the ISA should include some coverage, but read up on the implementation to be prepared.
COBRA is very expensive as you pay both your contribution and your employers, so it will likely be the most expensive choice, assuming that GM offers good insurance. If you are looking to buy a less expensive policy it will almost certainly offer less. Its a bad decision to have to make, but it certainly will be a wake up call, no health insurance, no matching 401 K.