Information At Your Fingertips
Keeping You Informed
w #TeamWashwick wants to ensure you have answers to your business questions. Please find some further information that we feel is the most helpful for you during this difficult time.
LAYOFF VS. FURLOUGH
If COBRA is elected and the person does not enroll in individual coverage, they can not do so until the next annual open enrollment for the marketplace.
If COBRA is elected and the person does not enroll in individual coverage, they cannot do so until the next annual open enrollment for the marketplace. You are “stuck” with COBRA, for the remainder of the COBRA period, until the future yearly marketplace open enrollment or until you become eligible for new group health plan.
If I enroll in an individual plan, can I receive a subsidy to help pay for the cost of the plan?
To qualify for a subsidy (premium tax credit), there are specific criteria you must meet; most notable eligibility is based upon income.
NOTE: #TeamWashwick works with the Individual Market. We can help! We are offering * COVID-19 Consultation Relief * No fee for assistance in enrolling in a plan that #TeamWashwick can sell.
Call & ask for Tristen Heidenrich today! 631-369-0888 ex 104
Employers can choose but are not required to subsidize COBRA for terminated employees.
- If you do currently pull deductions "pre-tax" and need a Section 125 Cafeteria Plan - please reach out to your #Team here at Washwick.
<information provided by #TeamWashwick in collaboration with Savoy Associates. General Agency. www.savoyassociates.com