November 2001 Trust Talk
What Happens To Benefits
Following Layoff
If you’re facing a layoff, you’ve got many concerns, one of which may be your benefits.
Other concerns will likely be handling stress, managing between jobs and handling your money wisely. Working Solutions Service offers materials
to help you with these issues and others.
Here’s what you need to know about your Trust-sponsored coverage and what will happen if a layoff occurs.
Dental and Vision Plans
You will be eligible for COBRA coverage for the dental plan and/or vision plan in which you are currently enrolled. COBRA continues coverage for
yourself and your currently enrolled dependents for 18 months. To enroll in COBRA, contact your payroll/personnel officer to complete the ADM 4750
form. Once this form is received and processed by the Trust, we will send you instructions for sending payments. Under COBRA, you are responsible
for paying for the cost of your coverage.
We suggest you review the plan booklet for dental and/or vision for
more detail about your coverage.
Life Insurance
You may continue your basic and supplemental life insurance under a group policy if you are laid off for up to 12 months. You are responsible for
making arrangements with Prudential and/or your Payroll/ Personnel officer to make sure your coverage continues. See the continuation information
for basic life insurance and supplemental life insurance.
If you return to work within the 12-month period following a layoff, you will be eligible for
refunds of the unused portion of premiums you paid to continue coverage, and your coverage under the Trust should begin the first of the month
following the date on which you return to active payroll. You should notify Prudential of your return to work so that your pro-rated refund will occur
on a timely basis.
If you have not returned to work within 12 months, you may convert your basic and supplemental
life insurance for yourself and/or your dependents if you are currently enrolled. Prudential should offer you the option to convert your coverage
in the 12th month of continuation.
Review your life insurance plan booklets for more detail about your coverage.
To Continue Basic Life Insurance
When you are laid off, you may continue your basic life insurance coverage for up to 12 months at group rates. However, you must pay for the entire
year’s cost at the time of your layoff. Payment may be made by personal check (made payable to Prudential) or can be deducted from your last paycheck.
The rate for continued basic life insurance is $.192 per $1,000 of coverage per month.
An example:
Joe is an OCSEA member who will be laid off. Joe may continue his coverage for his basic life insurance coverage if he makes arrangements with his
Payroll/Personnel officer before leaving State service. His coverage is equal to his yearly salary of $29,000, and so to
continue coverage, Joe must pay $66.82 or have it deducted from his last check.
29 (units of $1,000 coverage) X $.192 (rate for Joe’s basic life insurance
coverage) X 12 (months because it must be an annual premium) = $66.82
To continue your basic life insurance, see your Payroll/Personnel officer to complete the proper
ADM form.
To Continue Supplemental Life Insurance
As with basic life insurance, you may continue your supplemental life insurance coverage for up to 12 months, however, unlike basic life, the
premium must be paid directly to Prudential. To continue your supplemental life insurance coverage for yourself and any enrolled dependents, contact
Prudential at 800-778-3827. Or, you may complete the supplemental life continuation form (GL.99.432), and mail this form to Prudential along
with your premium payment for the first quarter of continued coverage. You may wish to discuss payment timing with Prudential in either case,
but payments are typically made on a quarterly basis.
Please note that supplemental life insurance is a prepaid benefit, so unless you contact Prudential
to continue your coverage, it will end the last day of the month following your last deduction. For example, if the deduction was taken in October,
insurance will end November 30.
| What Happens to Your Benefits Following Layoff |
|
Benefit
|
Continues?
|
Who pays premiums?
|
Member action required?
|
After continuation
|
| Dental |
Yes for 18 months under COBRA |
Member pays cost. See COBRA rates |
Use form ADM 4750 with Payroll/Personnel officer to enroll |
Member must find own coverage |
| Vision |
Yes for 18 months under COBRA |
Member pays cost. See COBRA rates |
Use form ADM 4750 with Payroll/Personnel officer to enroll |
Member must find own coverage |
| Working Solutions |
No |
N/A |
N/A |
N/A |
| AD&D
or AD |
No |
N/A |
N/A |
N/A |
| Basic life |
Yes for 12 months |
Member pays $.192/$1,000 of coverage at time of layoff |
Contact your Payroll/Personnel officer to complete the right ADM form |
Member may convert to an individual policy with Prudential |
| Supplemental life for members and dependents |
Yes for 12 months |
Member pays, and must contact Prudential to start payments |
Contact Prudential at 800-778-3827 |
Member may convert to an individual policy with Prudential |
Working Solutions Service
Unfortunately, there is no continuation, conversion or COBRA program for this benefit. We encourage you to contact Working Solutions as often as
necessary while still actively at work: any cases or research in progress will continue until your issue is resolved, regardless of at-work status.
Also, they offer some material to help you prepare for layoff.
To learn how Working Solutions Service might assist you, we suggest you review the plan booklet
and also consider contacting them at 800-358-8515 or online by linking
through the Trust’s website.
Contact Trust
customer service at 614-508-2255 or 800-228-5088 if you have any additional
questions regarding your benefits or you require assistance.
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