When and isolved team up to offer alternatives to COBRA

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Being let go from a job is painful. Losing an employer's financial contribution to the health insurance plan that came with it can make things much, much worse.

There are multiple reasons someone could find themselves suddenly paying out of pocket for health insurance premiums, and  two of the more common reasons are getting fired or laid off. Though these and other events often qualify an employee for Consolidated Omnibus Budget Reconciliation Act (COBRA) — a law that allows them to keep their employer health plan for a certain amount of time — they become responsible for the entire cost, typically $400-$700 per-person per-month, according to COBRAinsurance.com. 

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But COBRA  isn't the only option. Human capital management platform isolved, which works with 177,000 employers across the U.S., recently partnered with When, a post-employment platform that helps people navigate the period between jobs, including comparing and enrolling in the best health insurance option for them and their dependents. Isolved's new clients who sign up for COBRA coverage will automatically have access to When, and existing clients can add it to their benefits plans. Employees have access to Jamie, When's AI-powered health insurance assistant, as well as licensed insurance agents who can help guide them through the process. 

"We looked at it as, 'how do we serve our clients' employees better?'" says Barry Gauch, VP of strategic alliance and partnerships at isolved. "How do we connect them to the right type of insurance for their family during that really difficult time? First, innovate in a way that would be supportive to them. Second, how do we best support the community that runs those plans, which is the broker community? And then lastly, we had to find a partner that could meet us in that same place, would view our customers in the same light and value the off boarding part as much as we did. And we found When."

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When's combination of live and virtual support breaks away from how people traditionally engage with COBRA registration, which often involves hard copy and email communication.  Allowing them to ask questions, get expert advice and feel more empowered about their choices provides for a softer landing when they leave an organization, says Andy Hamilton, the company's CEO and co-founder. 

"You're going through a job loss, all you're seeing is COBRA information, you don't know what to do next, and that COBRA information is a little bit confusing as well. COBRA certainly serves an audience, but for the vast majority of people, it's the most expensive option. There are available public options through the exchange and off exchange that [should get] surfaced to exiting employees."

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By integrating When into their platform, isolved is able to automatically send an outreach message about its offerings alongside a COBRA letter to any of their company clients' employees going through the offboarding process. If someone chooses to use When, they immediately have access to its AI and live support, which also offers financial guidance options such as Medicare and 401(k) support.

By reducing the major pain point of health coverage navigation after a job loss, employers can set their former employees up to maintain their wellness and stay more financially secure, says Gauch. Upon making When an option in September, 82% of isolved's existing clients opted to add it to their plan. 

"It speaks to a nerve that's been struck," he says. "Make sure comparisons are available so that people know what else is out there." 

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