10 Things To Know About Severance Packages

What about health benefits?

A key concern of most employees today is health benefits. Upon termination, most employers will offer you the opportunity to continue the group medical and/or dental insurance coverage the company offered to its employees under the federal law known as COBRA (Consolidated Omnibus Budget Reconciliation Act, 29 U.S.C. (COBRA). If you elect COBRA, your company will continue to pay the employer's portion of your healthcare premiums for a period of time (employer continuation period). You should ask when your benefits end, when COBRA begins, how long it runs (typically 18 months) and what the premiums will be if you elect to continue post your employers' continuation period.