A single software engineer paying for full price for high premium plan on COBRA would be spending around $400[1], over the whole 18 months of doing that it would be $7,200 which would be less than one month's paycheck on a $160,000 salary.
A cursory look at h1bdata.info shows that Coinbase pays plenty of H1B's that much, on the low side.
Your view is a little exaggerated.
There isn't a downside here. If you were there a very short amount of time, just remove it from your resume and have a gap. Its inconsequential for software engineers. If you were there for over a year, take your vested shares, leave it on your resume, and still coast. If you were already interviewing and had another offer, do the same.
[1] To my surprise, people are paying WAY more for health insurance. Are they San Francisco/Bay Area residents? Unknown. Are they individuals or paying the family rates? Unknown. Are they using the most competitive providers? Unknown. Is Coinbase still covering health insurance for people on severance as if they were employees with COBRA starting after the severance period is over, adjusting all of our math? Unclear.
I also want to share that I paid for COBRA $1,660 a month for for my family coverage (spouse + 2 kids) so $400 is probably not true in many cases even if single it seems really a low estimate
The one time I was on COBRA, under 3 years ago, I paid close to $700/month, and I was the only person included in my coverage. Health insurance premiums have very likely gone up since then, and family sizes above 1 (such as even I have now) would cost meaningfully more than that. Smaller companies than that employer might also have higher total premium cost per employee, if they aim for good coverage.
This was NYC and was high quality and inclusive coverage.
Kaiser Permanente is from what I've heard an unusually good deal without anything comparable in NYC or most of the rest of the US, though not without their own weaknesses in areas like mental health coverage and dispute resolution.
You're right, if you don't have a family and don't have _any_ paycheck deductions, don't pay _any_ taxes, and use numbers 33% below the average cost, it seems small.
Survey of purported 2019 data shows $570 * 12 = $6,840 for individual, $19,000 for family (for some reason, no monthly cost there)
So lets say you only pay the feds income tax, and don't bother with medicaid, social security, state income tax, 401K, any other witholdings whatsoever - you'll earn 85% of $160,000, or $136,000. Divided into 26 paychecks, $5230 biweekly.
If you're single, yearly premium would be covered by 2.6 weeks of work, or 11% of your severance. If you have a family, 7.26 weeks of work, or 30% of your severance.
> If you're single, yearly premium would be covered by 2.6 weeks of work, or 11% of your severance. If you have a family, 7.26 weeks of work, or 30% of your severance.
yeah this is a better metric than my napkin math above.
it is also important to elaborate that we are talking about 4 months of payment with continued health insurance included, and calling that savings for an additional 12 months of paying for health insurance.
A single software engineer paying for full price for high premium plan on COBRA would be spending around $400[1], over the whole 18 months of doing that it would be $7,200 which would be less than one month's paycheck on a $160,000 salary.
A cursory look at h1bdata.info shows that Coinbase pays plenty of H1B's that much, on the low side.
Your view is a little exaggerated.
There isn't a downside here. If you were there a very short amount of time, just remove it from your resume and have a gap. Its inconsequential for software engineers. If you were there for over a year, take your vested shares, leave it on your resume, and still coast. If you were already interviewing and had another offer, do the same.
[1] To my surprise, people are paying WAY more for health insurance. Are they San Francisco/Bay Area residents? Unknown. Are they individuals or paying the family rates? Unknown. Are they using the most competitive providers? Unknown. Is Coinbase still covering health insurance for people on severance as if they were employees with COBRA starting after the severance period is over, adjusting all of our math? Unclear.