How to Own Your Own Company in 5 Easy Steps

March 23rd, 2009 Posted in COBRA/State Continuation, Start-Ups, politics

Why struggle for years grovelling at your boss’ feet for whatever tidbit is thrown your way? There has to be a better way! Now this may sound like a ShamWow commercial, but you can own your very own company in just five easy steps:

  1. Get fired from your job.

  2. Have your former employer fail to notify you of your COBRA or state continuation rights (thus you become uninsured).

  3. Come down with a terrible illness or injury and incur thousands of dollars in uninsured medical bills.

  4. Sue your former employer for failing to notify you of your right to continue on the company health plan.

  5. Take stock ownership of your former employer because they don’t have the cash to pay off your Mac-Daddy judgment!!!

Yep, it’s that easy. You just have to work for a company that doesn’t take its fiduciary duties seriously. President Obama just signed into law the American Recovery and Reinvestment Act (ARRA) which mandates that taxpayers cover 65% of COBRA premiums for involuntarily terminated individuals.

There are new Department of Labor notices that must be mailed to everyone who lost coverage since September 1, 2008. The deadline to send these notices is April 18, 2009. Let me know if your company might need some help (or not if you aspire to own them one day)…

Post a Comment