Re:FTC announces rule banning noncompetes
by yyhhsj0521 on Tuesday April 23, 2024 @05:18PM
(#40137402)
I am currently on one of those deals by working for an HFT, then taking a competitor's offer. It is really very nice. From a wealth-accumulation POV, I am losing out a lot of earning each month I'm not working, but I am still paid a very cushy six-figure salary that covers a comfortable lifestyle for my family plus decent savings. I value my time at prime working age much more than the net worth I potentially lost. I have been able to travel, hone hobbies, start and finish personal projects, just help out my wife, and much more. Honestly I don't want it to end.
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Re:FTC announces rule banning noncompetes
by michtzik on Tuesday April 23, 2024 @05:33PM
(#40137572)
How does health insurance coverage work during the garden leave period?
Since you are still employed by your previous firm during garden leave you are still covered by your employer’s health insurance policy. I’m also on garden leave at the moment and that’s how it works in my case.
Re:FTC announces rule banning noncompetes
by WrongAssumption on Tuesday April 23, 2024 @09:02PM
(#40139247)
I’ve had this where it’s covered, but also had it where it’s not covered.
Re:FTC announces rule banning noncompetes
by yyhhsj0521 on Tuesday April 23, 2024 @05:41PM
(#40137666)
There is the option to COBRA. I just switched to be on my wife's insurance.
In my (limited) experience, COBRA is far, far more expensive than buying on healthcare.gov.
Re:FTC announces rule banning noncompetes
by angoragoats on Tuesday April 23, 2024 @07:53PM
(#40138780)
COBRA just means that you’re continuing whatever plan you had under your employer, at full cost to you (vs. the employer presumably subsidizing some of the cost while you’re employed by them). The amount you pay is entirely dependent on the plan(s) your employer has chosen to provide its employees.
For me, the full cost of my current employer’s health plan is about $1800/month, and a comparable plan from the healthcare exchange is $2200-3000, depending on the plan. So if I were to lose my job, it’d be significantly cheaper for me to use COBRA than get a plan from the exchange.