The University of Toledo

Employee Benefits

   

Benefits Frequently Asked Questions (FAQs)

1. When do my healthcare benefits end?

2. When do my life insurance and long term disability insurance (if applicable) end?

3. How will this affect tuition waiver benefits for myself and/or my eligible dependents?

4. Do I need to do anything with my Ohio Public Employees Retirement System (OPERS) account?

5. I participate in an Alternative Retirement Plan (ARP), what happens to my account?

6. What happens to my 403(b) and/or my 457 tax-deferred annuity accounts?

7. Am I still eligible to use funds contributed to my Flexible Spending Account (FSA)?

8. Can I withdraw my unused funds from my FSA?

9. How can I continue my health insurance?

10. What if I have further questions regarding my Benefits?

 

   

1. When do my healthcare benefits end? 

 

Your medical, prescription drug, dental, vision, flexible spending and EAP (Employee Assistance Program) end on the last day of the month that your employment with the University ends.   You will receive information regarding the continuation of these benefits (COBRA) approximately two weeks after your employment ends.  Details regarding COBRA are provided below.

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2. When do my life insurance and long term disability insurance (if applicable) end? 

 

Your life insurance and long term disability insurance will end on your last day of employment.  You will be receiving information regarding your conversion and portability rights with your COBRA packet.

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3. How will this affect tuition waiver benefits for myself and/or my eligible dependents? 

 

Your tuition fee waiver benefits will expire at the completion of the semester in which your employment ends.  The UT Works program may extend the waiver benefits for the eligible employee.   

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4. Do I need to do anything with my Ohio Public Employees Retirement System (OPERS) account? 

 

OPERS will maintain an account in your name until you either qualify for monthly retirement benefits or you apply for and receive a refund of your contributions.  You can obtain additional information at www.opers.org or by calling (800) 222 – 7377.

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5. I participate in an Alternative Retirement Plan (ARP), what happens to my account? 

 

Please contact your ARP provider regarding account options that include distributions or rollover of your account.

 

Great American Life Insurance Company	(800) 789-6771, ext. 11401
Hartford	(419) 259-2209
ING Life Insurance & Annuity Company	(419) 534-4413
Lincoln National Life Insurance Company	(866) 261-3763
Nationwide Life Insurance Company	(419) 824-3300
AXA Equitable Life Insurance Company	(800) 551-2423
TIAA-Cref	(877) 209-3138
Valic	(800) 892-5558 ext. 88069

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6. What happens to my 403(b) and/or my 457 tax-deferred annuity accounts?  

 

Please contact your respective carrier regarding your account options that include distributions or rollover of your account.

 

Ameriprise Financial	(419) 841-5405
ING	(419) 534-4413
Mass Mutual	(419) 893-9759
TIAA-Cref	(877) 209-3138
Valic	(800) 892-5558 ext. 88069
Ohio Deferred Compensation (457)	(614) 579-9817

                                                 

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7. Am I still eligible to use funds contributed to my Flexible Spending Account (FSA)?

 

Yes.  Only expenses incurred through your termination date.  You must submit claims for services prior to your term date within 90 days after the date of termination.  If you continue your coverage with a COBRA election, you may be eligible to continue participating in the FSA program. 

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8. Can I withdraw my unused funds from my FSA? 

 

No.  Funds may only be used to reimburse eligible expenses as outlined by the IRS.  Any funds remaining in your account must be forfeited as required by IRS guidelines.  If you continue your coverage with a COBRA election, you may be eligible to continue participating in the FSA program. 

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9. How can I continue my health insurance? 

 

Both Ohio and Federal law provide for insurance continuation.  Please review the following information.

COBRA (Consolidated Omnibus Budget Reconciliation Act) provides employees and their eligible dependents the right to continue group health benefits provided by the plan under certain circumstances.  COBRA allows you to continue medical, prescription drug, dental, vision and/or medical flexible spending account benefits when coverage is lost due to the following qualified events:

-Voluntary or Involuntary Termination of Employment (other than gross misconduct)

-Reduction of Hours of Employment that Affects Benefit Eligibility

-Divorce or Legal Separation

-Death of a Covered Employee

-Covered Employee Becomes Eligible for Medicare

-Loss of Dependent Child Status as defined by Health Plan

Maximum Coverage Continuation Period	Qualifying Event	Qualified Beneficiaries
18 Months	·  Employee’s Termination · Employee’s Reduction in  Hours	· Employee ·All Covered Dependents
36 Months	·Employee’s Divorce or Legal Separation · Employee’s Death ·Employee’s Entitlement to Medicare Benefits ·Loss of Dependent Child Status	· All Eligible Covered Dependents
COBRA coverage will cease on the last day of the month in which you: · Reach the maximum coverage period · Fail to submit a premium payment

COBRA Enrollment Period

You have up to 60 days to elect coverage from the later of the date that:

-  Your coverage ends (refer to Question 1 regarding benefits ending)
-  You receive the COBRA election notification

Each eligible individual has a separate right to continue coverage.  For example, the employee’s covered dependents may elect continuation of coverage even if the employee does not.  If you elect coverage, your initial premium is due 45 days after the election date.  Coverage and premiums are effective back to the date of the loss of coverage.

Premiums

COBRA premiums are equivalent to 102% of the full monthly rate for the respective benefits.  Please click here for current premiums and COBRA rates.

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10. What if I have further questions regarding my Benefits?

 

You can contact the Human Resources line at (419) 530-4747 and ask to speak with a benefits representative or contact one of the Benefits representatives directly at the numbers below.

 

Denise Shordt	Sr Benefits Advisor	(419) 530-1442
Allison Anderson	Benefits Advisor	(419) 530-1456
Tracy McDole	Benefits Customer Service Rep	(419) 530-1459

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For detailed Benefits information, please visit our main Benefits Page here.