556 |
Insurance Conversion Privileges |
| P – 556.0 |
According to the federal
Consolidated Omnibus Budget Reconciliation Act (COBRA) of
1985, in the event of termination of employment
or loss of eligibility to remain covered under group insurance
programs, employees and eligible dependents may have the right
to continued coverage, at their own expense for a limited period
of time. |
| Pr – 556.0.1 |
If enrolled in the College’s medical and/or
dental insurance, each qualified recipient has the right to
continue medical and/or dental coverage for up to 18 months,
or in certain circumstances, up to 29 months or 36 months.
The employee/eligible dependent will pay the full premium and
may be charged any applicable administration fee as allowed
by law. |
| Pr - 556.0.2 |
If participating in a dependent care flexible
spending account, the employee may continue to request reimbursement
for qualifying dependent care expenses for the remainder of
the plan year to be drawn from the balance remaining in the
dependent care account at the time of termination. No further
contributions may be made. All claims must be submitted within
90 days of the end of the plan year. |
| Pr – 556.0.3 |
If participating in a medical flexible spending
account at the time of termination, the employee may continue
individual contributions and claims to the medical flexible
spending account through COBRA provisions until the end of
the plan year, if there is a positive balance in the account
at the time of termination. The employee may be charged any
applicable administration fee as allowed by law. |
| Pr – 556.0.4 |
Upon termination or upon notification of a qualifying
event, information regarding continuation of coverage is sent
or delivered to qualified beneficiaries. |
| P – 556.1 |
Conversion of Basic Life, Voluntary Supplemental
Life Insurance, and Long Term Disability Insurance will be
permissible as allowed by the provisions of each plan. |
| P – 556.2 |
In accordance with Missouri statutes, the employee,
if participating in the Public Education Employees Retirement
System (PEERS) or Public School Retirement System (PSRS), may
elect upon retirement continued coverage in the College’s
group medical insurance plan. |
| Pr – 556.2.1 |
The retiree must elect coverage within one year
from date last employed by the College or a Missouri school
district in order to qualify for retiree insurance coverage.
Retiree’s dependents may also be enrolled according to
the terms of the plan pertaining to eligible dependents. The
retiree will pay the full amount of the premium for the retiree
and any covered dependents. No administration fee is charged. |
