The first thing you realize after getting laid off is that a lot of bills come due. If you don’t have other insurance COBRA comes calling. If you want to convert your life insurance policy MetLife gives you a ring. The good news is that all of these places are willing to extend benefits to the unemployed.
I can remain on COBRA for 18 months and I can convert my life insurance to an individual policy without a medical exam. The bad news is that once I review the options and make decisions I need to pay the bills.
Since my employer used to pay a good portion of these benefits I had no idea just how much they cost. With COBRA my medical and dental insurance will now cost me over $1400 a month. By the way since coverage is retroactive I now owe three months worth of premiums. That’s right by the end of January I’ll need to fork over nearly $3000.
This wouldn’t be such a big deal if my employer mailed my severance check, but alas my check is no where to be found. It seems I must fill out a bunch of forms before I can receive payment and surprise, surprise the paperwork was lost in the mail. Well my former employer is claiming it was lost in the mail.
So here I thought a check would arrive this week and instead I find out my former employer hasn’t even begun processing the paperwork for my severance. Now they’ll need to resend the documentation and won’t begin the process until they receive a copy back with my signature. That may mean waiting another month to receive that big check.
It’s a good thing we have emergency savings. I know a lot of people in the same situation would be unable to pay their medical bills.
3 thoughts on “I’m Sorry. I Don’t Have Your Severance Check.”
I would make a copy of all the paperwork, so if it gets "lost in the mail" again then you won't have to wait for them to resend it. I would copy it before I sign it, you can always sign again. I hope that it all works out for you. Have a Merry Christmas,
It's stituations like this that make me want to change my ways. If this happened to me today, I would have no way to pay it and that would be so very scary.
Thank you for sharing.
That's not cool! Hope the process is rectified soon.