Summary of Benefit Coverage Upon Termination of Employment
Medical/Rx Drug, Dental and Vision Plans
All coverage(s) will end on the last day of the month of your termination date. Example: Your termination date is June 8th, so your coverage(s) will end June 30th. *
COBRA will be offered. Watch for COBRA information from isolved (formerly Infinisource).
Flexible Spending Account (FSA)
Health Care and Dependent Care FSA participation ends on your termination date.
- Health Care FSA - Your have 90 days from your termination date to submit for reimbursement all eligible health care expenses that occurred on or before your termination date. You may elect COBRA continuation coverage and remit after-tax contributions to submit eligible expenses incurred after termination date.
- Dependent Care FSA - You have 90 days from your termination date to submit for reimbursement all eligible dependent care expenses that occurred on or before your termination date.
Health Savings Account (HSA)
Contributions to your HSA will end with your last health insurance deduction (generally your last earnings check). The existing HSA balance is yours to keep and use until it is depleted. A monthly administrative fee may be deducted from your account by Optum Bank.
University-Paid Basic Term Life Insurance
University-Paid Basic Term Life insurance and University-Paid Basic Accidental Death & Dismemberment (AD&D) coverage ends on your termination date.
Portability and conversion options are available to continue coverage. Please contact Lincoln Financial if you are interested in continuing your life insurance coverage.
Voluntary Term Life Insurance and Dependent Life Insurance
Coverage(s) will end on your termination date.
Long-Term Disability
Coverage will end on your termination date.
Tuition Waivers
Tuition waivers, if you were eligible, will end on your termination date.
Retirement Program
You may withdraw funds from your 403(b) Retirement Plan, 457(b) Ohio Deferred Compensation, and/or 401(a) Alternative Retirement Plan account any time after your termination date. Please contact your applicable vendor(s) to initiate your desired withdrawal.
Additional Information
Please contact Benefits at benefits@utoledo.edu with questions regarding any of the above benefits.
Plase contact Payroll at payroll@utoledo.edu with questions regarding sick time and vacation time.
*9-month faculty medical/Rx, dental, and vision end on July 31st if you leave position in May.