What happens with health insurance once the employee has been laid off? What kind of options do we have?
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you can't collect unemployment until your severance package runs out. went through that last yr when I was let go. but do sign up for unemployment. when it kicks it you have to submit a claim every week or two weeks. it can be direct deposit
It’s a lump sum payment so you can file for unemployment and you might as well. Just be ready to jump through the hoops to get it with x number of inquiries a week. Just depends on who is assigned to you if they check up on you or not.
You can’t get unemployment while getting severance. Maybe that’s if it’s not s lump sum but I know you can’t get both
Cobra is actually about $2600 a month for a family. We just got the package in the last go around. You need to file for unemployment too. You can collect unemployment for a good bit of time. It helps.
Is the 24K insurance payment as part of the severance just a cash payment? Or does that money HAVE to go towards COBRA?
COBRAAAA!
I was told by HR for a family cobra will be 1780 a month.
Yep. Get cobra until you can get another plan lined up. Typically you don't want to use cobra long as it tends to be very expensive. Just do it until you have coverage elsewhere so you don't have a lapse in coverage. Also, you should have something like 30-60 days to decide on cobra and can back elect for it. It's been a while since last I saw layoffs, so ask hr these questions when the time comes if you end up in the chair.
How much is COBRA?
Ends immediately I think. You can use COBRA. It’s the law.