A word of caution to all that will be leaving this June: Document, document,document---I left just over 2 years ago and after signing Cobra agreement it took over 4 months and probably 75-150 phone calls to get closure on what my real benefits were---make sure you write down the time,date,and names of all people you talk to as all calls are recorded and this will be your only life raft since you will probably never talk to the same person twice.I filled up about 3 yellow legal pads with notes, times,etc. Be proactive and make the first move at all times if something is in question since they will be totally over run with the upcoming with what is coming up in the near future. For example, at the time I left there were probably less than 50 individuals let go at that same time. Best of luck to all and for those that are of retirement age I can personally say that there is nothing better.
And be forewarned that COBRA is utterly without value. You'll find a much better plan outside of Merck for far less money.
That may only be true if your COBRA plan is not subsidized by Merck. Straight COBRA is clearly a joke. You can thank a group of dip-sh*t politicians (because their smarter than the rest of us) for exercising their bureaucratic muscle and mandating that severed employees, by law, should have access to overly expensive insurance.. wait that sounds very similar to something called...uhhm.. Obamacare?
Didn't they say part of the package would be health benefits for a year (depending on grade level) at Current Employee Rates? Is this subsidized cobra?
Cobra will be subsidized by Merck, anywhere from 6-12 months, depending on Tenure and includes Medical, Dental, and Life. Spoke to Human Resources on Monday. After Subsidized date, rates will go up periodically, but still will be a significant discount to plain Cobra.
