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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@OP im in same situation. They told me and I confirmed on verizon benefits connection that you will automatically keep your current insurance unless you opt out. You may be thinking about the retiree benefits they ask about. Starting Sept 1 your existing plan will stay the same and you will be billed for your payment or you can go on line and sign up for auto payment.
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.