[bargl]

There is some small amount of protection involved. They have to offer COBRA (I'm not sure about a company going belly up) at the same rate they pay. Which means you get a negotiated rate. I've done this and it's fucking expensive but it works. The shit part is that small companies are exempt, which makes sense but can still suck. I am also not sure what happens if the company is filing bankruptcy or not. So maybe they can get out of it.

[taurath]

"It works" means if you have the money you can buy it. If you've don't have 6 months of expenses saved you're already in trouble, add the $650-1200 a month for COBRA and most people would be on the street.

The only good thing is since they hard laid you off you can immediately apply for obamacare/medicare and pay nothing out of pocket because you have 0 income other than unemployment.

[s73v3r_]

Which is better than absolutely nothing, but now you have to pay the full company rate, which is usually much higher than someone who now doesn't have a job can afford.

[bargl]

I'm not saying it's good or the right solution, but there is something there. I just think it's fair to point out that they have an option even if it does suck.