Benefits atTermination
Benefits at Termination
Under Federal Law, many people covered under group health plans have the opportunity for temporary extension of health coverage (called "continuation coverage") at group rates, in certain instances where coverage would otherwise end.
If continuation of coverage is chosen, the participant will assume the full premium cost and will receive coverage identical to coverage provided when actively employed.
The Consolidated Omnibus Budget Reconciliation Act (COBRA) and many state laws have rules giving employees and their covered dependents the right to continue coverage after they leave the group (termination of employment, reduction of hours, layoff, divorce, legal separation, death and/or disability), and then convert to individual policies. COBRA applies to hospital, medical, surgical, dental, prescription drug, hearing and vision group insurance plans.
Other benefits such as email account, computer loans, fitness center, College Store employee discount will end at the time of termination. Employees should also provide any College owned property such as laptops/computers, Corporate Credit Card, keys, etc. to their supervisor.
Vacation Payout
Upon termination of employment, any unused accrued vacation up to a maximum of 30 days will be paid to the employee. Vacation payout will be processed at the same time as the last regular check is paid but in a separate check. For salaried employees, documentation of vacation usage must be submitted in a timely manner to HR before final payment will be made and the vacation bank will be adjusted to a pro-rated earned amount for each month worked when an employee terminates during the academic year. Hourly employees will be paid any unused accrued vacation time they have earned up to the last day worked.
Medical and/or Dental Insurance Plans
Excellus and Guardian plans may be continued for a period of 18 months as long as the monthly premium plus a 2% administrative fee is paid to the provider. The departing employee has 60 days from the date of notification to elect this coverage through COBRA.
Flexible Spending Accounts (FSA)
Flexible Spending Accounts may be continued for a period of 18 months as long as the monthly premium plus a 2% administrative fee is paid to the provider. The departing employee has 60 days from the date of notification to elect this coverage through COBRA.
If a former employee does not elect to maintain the FSA benefit through COBRA then they are still allowed to submit reimbursements for expenses already accumulated.
Note: Any individual participating with COBRA coverage is eligible to change coverage during the Colleges' annual benefits open enrollment in order to change their plan.
Group Term Life Insurance
Conversion (changing your current term insurance policy to an individual whole life insurance policy) for basic life and portability options for supplemental life insurance programs are available. Election must be made within 31 days following separation of employment. Information regarding conversion will be provided by Relph Benefit Advisors at the time of termination.
Short Term Disability
If your disability begins during the first four weeks of unemployment, your claim will be paid through the Colleges' insurance company, if you are eligible. If your disability begins after the first four weeks of unemployment, your claim will be paid by the Special Fund administered by the Chairwoman, Workers' Compensation Board, if you are eligible.
Long Term Disability Insurance
No continuation coverage available.