Severance- Group Health Insurance Benefits

  • Employee must be enrolled in health insurance benefits (medical, dental or vision) at time laid off and elect continuation coverage (COBRA) or early retiree medical access (ERMA) coverage, if applicable.
  • Lump sum benefit equivalent to the monthly COBRA or ERMA premiums through the month in which severance benefits end but no less than one month.
  • Lump sum payment considered taxable income and subject to all applicable taxes.
  • COBRA election requirement enforced.

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