Question for anyone that was recently laid off. The Severance agreement states that we will be automatically enrolled in our current health benefit plans on September 1st but I also received a letter stating that I need to select a COBRA plan by November 1st? I tried calling but got someone that didn't seem to know what they were talking about and just advised me to login and pick a plan. I have been on a grandfathered health plan for years and don't want to mess anything up. Any advice out there?
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You will automatically be enrolled into cobra for the duration of your severance period at no cost to you.
When your severance runs out, you have to decide if you want to continue with cobra (you will have to make monthly payments which will be expensive) or you can choose a health plan through your state’s marketplace.