Floyd When Benefits End

Savings and Spending Accounts 

• 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.  
  
  Contact Bank of America for balance information and with questions at 866-731-4206 or www.bankofamerica.com/benefitslogin.  

Life Insurance Plans

• 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. 

Resources for Additional Information

• Floyd HR-02-003 Paid Time Off Policy 
• Floyd Who to Contact
• Floyd Retirement