Benefits After Employment
When an employee's employment ends, no matter the circumstance,
their benefits will cancel at midnight on the last day of
employment. It is important to know that even though benefits with
the company cancel, the former employee does have options to
continue coverages for some of their benefit options. See below on
which benefits have contuation of coverage options.
Medical, Dental, Vision & Health Savings Plan (HSA)
Within 60 days after employment ends, the former employee can
continue their current medical, dental and/or vision coverage for
themself and any dependents they were covering for up to 18 months,
by electing COBRA coverage. For more information about COBRA
options,
click here.
Flexible Spending Account (FSA)
Within 60 days after employment ends, the former employee
can continue their current Health Care FSA and/or Dependent Care
FSA coverage through the end of the current plan year, by electing
COBRA coverage. For more information about COBRA
options,
click here.
401K Retirement Savings
Generally, if you terminate your employment with your Employer
and all Related Employers, you may elect to receive a distribution
of your vested Account balance from the Plan. For information on
how your vested balance is determined, review the plan summary
document by clicking
here.
Life Insurance
Former employee's have the option to continue their Life
Insurance coverage through MetLife. Click here
for more information.
Voluntary Benefits (Critical Illness, Accident & Hospital
Indemnity)
Within 60 days after employment ends, the former employee
can continue their current critical illness, accident and/or
hospital indeminity insurance coverage for themself and any
dependents they were covering through MetLife. Within a couple
weeks after employment ends, MetLife will mail the former employee
a portability letter explaining the continuation of benefit
option.
Disability Insurance
Disability insurance coverage is not available to continue after
employment ends, unless the employee has a current active approved
claim. If an employee has a current active approved claim when
their employment ends their claim will continue as long as the
disability is ongoing and the coverage period has not yet
ended.