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This is a US company… so how is health insurance being handled? COBRA costs are a couple thousand dollars for families, and even that’s not available to employ

by gcr 2y ago

This is a US company… so how is health insurance being handled? COBRA costs are a couple thousand dollars for families, and even that’s not available to employees who choose to voluntarily quit. Either the CEO is ignorant of the reality or employees will wind up paying a fairly expensive cost for that $25k one-time cashout. I hope they know this. If I were in the position of wanting to quit like that, I’d ask the employer to sweeten the deal by throwing in 6mo or so of health insurance coverage.

ptero 2y ago
> COBRA costs are a couple thousand dollars for families, and even that’s not available to employees who choose to voluntarily quit. COBRA is available in the US regardless of the reason for quitting a job. I quit a large company job to try launching my own startup and was using COBRA for family health care. It is not cheap, as you say (my top-of-the-line medical+dental+vision coverage for myself, my wife and the kids was ~$2500/month), but the option is certainly there. But I think the main approach to this type of voluntary severance bonus is for people to move to another employer, not to the unemployment. I know a few people who took such offers and they all quickly pre-arranged their next step before signing buyout offers. In fact this is one of the big problems with buyouts at large corps: the people taking buyouts first are good engineers that can find jobs anytime and this is the group the companies want to keep. My 2c.
swmcsimov 2y ago
Thanks for asking, agree health insurance costs in the US are high and a real concern. We fully cover the costs of health care (medical, dental and vision) premiums for our US employees and their dependents, so they don't pay a dollar towards coverage while employed. Additionally, for those who opted to take this offer, we did include COBRA coverage to help offset those costs for them as well.

by gcr 2y ago

ptero 2y ago

> COBRA costs are a couple thousand dollars for families, and even that’s not available to employees who choose to voluntarily quit. COBRA is available in the US regardless of the reason for quitting a job. I quit a large company job to try launching my own startup and was using COBRA for family health care. It is not cheap, as you say (my top-of-the-line medical+dental+vision coverage for myself, my wife and the kids was ~$2500/month), but the option is certainly there. But I think the main approach to this type of voluntary severance bonus is for people to move to another employer, not to the unemployment. I know a few people who took such offers and they all quickly pre-arranged their next step before signing buyout offers. In fact this is one of the big problems with buyouts at large corps: the people taking buyouts first are good engineers that can find jobs anytime and this is the group the companies want to keep. My 2c.

swmcsimov 2y ago

Thanks for asking, agree health insurance costs in the US are high and a real concern. We fully cover the costs of health care (medical, dental and vision) premiums for our US employees and their dependents, so they don't pay a dollar towards coverage while employed. Additionally, for those who opted to take this offer, we did include COBRA coverage to help offset those costs for them as well.