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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