Citrusflyer
Well-known member
- Joined
- Nov 25, 2001
- Posts
- 252
Unless he has medical insurance through his spouse, that's pretty stupid.
The signing bonus maxes out at $7,937. divided by 48 (the number of months you would have no co-premiums paid by the company under the new T.A. before being eligible for Medicaire), gives you $165.34.
I guarantee you that COBRA rates are higher than $165 bucks a month for a 60+ year old guy, even in decent shape.
Maybe he didn't understand the medical insurance concessions,,,?
Don't overlook one important fact, all bonuses are taxable at 47% under IRS rules unless there is a provision - set up by the company - to put it into our retirement. Last I heard the company is not going to provide that option, so take 47% from your bonus check before you count on it!
$7937 equates to about $4206. (I guess it's true that everyone has his price, I would have hoped this guys' was not so low - oh well).