We see the #OpenToWork status on LinkedIn, we follow the updates on layoffs.fyi and many of us have had friends and family reach out to us about new opportunities. Large public tech companies have been hit particularly hard, with most of the FAANG (Facebook – now known as Meta, Apple, Amazon, Netflix, and Google) companies having gone through hiring freezes, if not a round or rounds of layoffs.
Health insurance is arguably one of the most important benefits many workers receive as an employee. However, most organizations in the United States operate an “at will” employment model – meaning that companies can lay people off as they see fit and are not required to offer severance or continue payment towards an ex-employee’s benefits. That said, most companies are required to offer healthcare through the Consolidated Omnibus Budget Reconciliation Act, otherwise known as COBRA insurance, to staffers who have been laid off. COBRA gives those who have left a company the option of staying on their former employer’s insurance plan.
