{ "media_type": "text", "post_content": "Hey guys, since this is the first time this happens to me I need some advice. \nI'll most likely get laid off soon as the agency currently lost a few clients and already let go plenty of people (CONT) ", "post_id": "5d8428ea69152e001a8e11ae", "reply_count": 27, "vote_count": 2, "bowl_id": "5565cfca8b2b9a03009acf57", "bowl_name": "Advertising" }

Hey guys, since this is the first time this happens to me I need some advice. I'll most likely get laid off soon as the agency currently lost a few clients and already let go plenty of people (CONT)

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usually, most places do a week per year you worked there with a 2 week minimum. it's usually non-negotiable in that it's corporate set. by taking the severence you usually agree not to sue them. cobra is hella expensive, get on obamacare.

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FYI, I’m about to either get on Cobra or Obamacare. Family of 4. For a silver plan, the costs are pretty similar. In NJ for reference.

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Agree. There’s nothing to negotiate unless you’re planning to sue, etc. In most places it’s 1 week severance per year of service. Get 401k info, do Cobra or Obamacare. Get people’s emails & numbers especially HR or if expenses are due. file for unemployment as soon as you’re out.

likefunny

Don’t go without health insurance no matter how young and healthy you are. If you are uninsured and you have a random accident or just wake up one day with an unexpected illness, the medical costs can bankrupt you or ruin your credit for years. Cobra usually offers better coverage, but if you can’t afford it, at least get one of the high deductible Obamacare plans. Also, look at the details of Cobra - I think you can wait 60 days to sign up, and it’s retroactive to when you were first eligible. If you get a new job in that time, you might get covered under new insurance before you have to pay the Cobra premium.

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They told me they would love to keep me but might not be able. So when they lay you off, do you usually get a severance package or how do you negotiate that?  And what else do you need to take care of besides taking your 401k with you and potentially signing up for COBRA?

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first of all, i learned the hard way that severance and health insurance is negotiable. I've been laid off twice for the same reason (company lost too many clients and i was brand new both times). the first time i got laid off and it was the last day of the month and my health insurance expired the next day. they have me 2 weeks. it was a nightmare. it happened again a year later, and i was actually able to get my insurance extended for 2 months and got about 6 weeks. don't sign anything immediately and just see what's possible.

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Obamacare is pretty bad (no plans with out of network benefits in nyc) and also expensive unless you are young and can just get catastrophic insurance. Cobra can be totally worth it to continue on a good plan! You have it for 18 months.

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Perhaps goes without saying but start job searching immediately and ideally jump ship before lay-off.

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Join the Jobs bowl. Between that, LinkedIn and FB group posts if you’re on the right ones, things can work out quickly sometimes.

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Thanks a lot guys, appreciate your help!

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You can leave your 401k until you are ready to move it. With this volital market don't move it too quickly.

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Keep your head up. Unemployment ASAP. Hit the applications hard. Exercise.

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Has anyone ever sued?

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US employment contracts are typically “ employment at will”. Meaning you can be fired for any reason or no reason. Most people have no basis upon which to sue in a lay-off scenario. Successful Lawsuits happen if you believe and can prove your firing was because of discrimination and not due to loss of business/client For example: ( protected class) or retaliation ( sexual harassment complaint, etc)

Regarding cobra or obamacare, so my understanding is you have to get healthcare insurance even when you're working freelance, otherwise you get a penalty right? Also, what's a cheap and good healthcare alternative for a single person for the time when I cannot use cobra anymore? Like a very basic coverage.

https://help.ihealthagents.com/hc/en-us/articles/115001888334-What-is-the-penalty-for-not-having-health-insurance-in-2019-

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Apply for unemployment the day you get laid off because it takes a few weeks to process and it’s nice having a cusion

If I didn’t file my taxes for 2018 yet (long story) can I still collect unemployment?

Not sure, speak with an accountant; hopefully you filed s formal extension too.

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