4 ms·
It isn't, the generosity is allowing you to pick up COBRA
by anoncareer0212 6y ago
It isn't, the generosity is allowing you to pick up COBRA
- shuckles 6y agoI believe COBRA is available for up to 36 months after your employment ends in California by law. As a result, I don’t know how to read “6 months COBRA” from the excerpt of the severance email besides “we will pay 6 months of employer premiums.”
- anoncareer0212 6y agoCOBRA means employees paying the employer premium, by guaranteeing COBRA, an employer is saying "We won't stop paying the health insurance company for _everybody else's insurance_, so you'll still have someone to pay" - it's a great PR jiu jitsu move, I didn't realize until this thread how confusing it is - I'm only familiar with it because sadly I had to sunset a company in California.
- shuckles 6y agoSo are you saying the Coinbase CEO simply said something to the effect of “we will maintain our insurance plans for 6 months company-wide”? That seems disingenuous.
- argonaut 6y agoThat is the most convoluted interpretation of offering COBRA, and is almost certainly incorrect. You're referring to the fact that an employer can technically terminate COBRA by ending all health insurance plans. But Coinbase would have to stop offering any health insurance to all their current employees for this to occur. If that happens (I'm virtually certain it won't), there would be an actual employee riot/exodus and the tech media would be all over that story.
- patrickyeon 6y agoI haven't seen the details here, but I've been laid off twice in the last two years, in both cases when "the employer provided COBRA" they meant they are paying my COBRA premiums. This showed up as a cheque, on top of my severance pay, for the expected cost of COBRA premiums plus an appropriate amount to pay for the taxes on that payout.