When an employee leaves the company, it’s important to provide clear and timely information about their benefits. This not only ensures compliance with legal requirements but also helps the employee understand their options and next steps. To make the process smoother, here’s a list of essential benefits notices that should be shared during offboarding.
COBRA Election Notice
After your employment ends, you will receive a COBRA Election Notice via email from WEX, our cobra administrator, about 7-10 business days after your termination. This notice provides detailed information about your rights to continue health insurance coverage under COBRA, including the plans available for continuation, coverage costs, and the steps you need to take if you wish to elect COBRA coverage.
Be sure to watch for this email, as it contains important deadlines and instructions for maintaining your health benefits. If you have any questions or do not receive the notice within a week of your termination, please reach out to us.
Electronic Disclosure Consent Form
This letter serves to confirm your consent to receive important benefit-related notices electronically, in compliance with ERISA and the ACA requirements. By signing this document, you acknowledge your understanding of the terms outlined and agree to access benefit communications via electronic delivery. Please review the document carefully and ensure you meet the necessary requirements for electronic communication.
Life Insurance Conversion or Portability Forms
When losing eligibility under the company’s life insurance plan (for example, in the event of termination of employment), employees may have the option to continue their life insurance coverage through conversion or portability.
Employees have 30/31 days after their coverage ends to elect either conversion or portability
Please review the below Life Insurance Conversion or Portability forms for more details on how to proceed:
- Life Insurance
- AD&D (Accidental Death & Dismemberment)
- Hospital Indemnity Portability application
- Critical Illness Portability application
- Accident Portability application
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