Voluntary separation packages at Doosan Bobcat offer limited health coverage, pushing older workers toward costly early Social Security claims.
Doosan Bobcat North America’s voluntary separation program for U.S. salaried employees includes just three months of COBRA health coverage at active-employee rates. Workers face a 33-month gap before Medicare eligibility at 65, risking high premium costs without income support.
Claiming Social Security at 62 reduces monthly benefits by 30%, turning a $2,400 check into $1,680 for life. Early claims also increase Marketplace MAGI, potentially shrinking tax credits that lower health premiums. Alternatives like Roth withdrawals or cash savings avoid this pitfall.
The program’s payout structure, based on years of service and position grade, may appear attractive but leaves critical financial gaps for older employees.