Below is an overview of what to expect regarding when your benefits end due to separation of employment or becoming benefits ineligible.
Health, Dental and Vision Benefits
Health, dental and vision coverage ends on the last date of employment or the date you are no longer benefits eligible.
Health Insurance: Teammates enrolled in one of the health plans will have the option to elect COBRA for each covered person. Information regarding continuing coverage, and the cost, will be mailed to your home address from HealthEquity Contact HealthEquity at 855-556-5737 with questions.
If you elect COBRA, benefits will begin the day following the last day of coverage
Dental Insurance: Teammates enrolled in the dental benefit will have the option to elect COBRA for each covered person. Information regarding continuing coverage, and the cost, will be mailed to your home address from HealthEquity. Contact HealthEquity at 855-556-5737 with questions.
If you elect COBRA, benefits will begin the day following the last day of coverage.
Vision Benefit: Teammates enrolled in the vision benefit will have the option to continue the benefit. Learn about the CEC Vision Portability Plan and contact CEC Vision at 888-254-4290.
Health Savings Account (HSA): contributions stop with the last regular paycheck. Your account then becomes a retail account with Bank of America. You may continue to use this account for eligible expenses; some fees may apply.
Health Care Flexible Spending Account (FSA): coverage ends on the last date of employment or the date you are no longer benefits eligible. A COBRA option is available through the current year-end. Teammates may file claims up to 121 days after the benefits ineligible date for any expenses incurred through the end of coverage.
Limited Purpose Flexible Spending Account: coverage ends on the last date of employment or the date you are no longer benefits eligible. Teammates may file claims up to 121 days after the benefits ineligible date for any expenses incurred through the end of coverage.
Dependent Care Flexible Spending Account: coverage end on the last date of employment or the date you are no longer benefits eligible. Teammates may file claims up to 2 ½ months after the end of the plan year for expenses incurred before the end of coverage.
Coverage ends on the last date of employment or the date you become benefits ineligible.
You may apply to convert your life insurance policy from a group plan to individual coverage. A packet to continue coverage will be mailed to your home address on file.
Short-Term and Long-Term Disability Plans
STD and LTD coverage ends on the date that you become benefits ineligible.
Voluntary Benefits
Coverage ends on the date that you become benefits ineligible. Information regarding how to continue coverage will be mailed from the voluntary benefits vendors.
Retirement Savings Plan
Contributions to Atrium Health Floyd’s 401(k) savings plan and 401(k) Roth savings plan will stop with the last regular paycheck.
Contact TransAmerica Retirement Solutions (TRS) with questions at 888-676-5512.
Paid Time Off (PTO)
PTO accrual ends on the effective date of termination or the date no longer benefits eligible.
PTO is paid out upon end of employment or becoming benefits ineligible, typically on the teammate’s final paycheck.
Extended Illness Bank (EIB)
The Extended Illness Banks are notional accounts only and are not paid out at end of employment.
Premiums
Upon termination or your move to benefits ineligible, premiums will be deducted through the end of the pay period in which your coverage was in effect.
