Separating Employees

For those leaving the university, here are a few resources:

Separation From the University

Active employee benefits coverage ends on the last day of the month in which your employment ends. Premium payments are applicable. If you would like to continue medical, dental, vision, and healthcare flexible accounts, you can do so under COBRA. Coverage is identical to the health coverage carried by active employees. You will receive information at your home address designated in OneUSG Connect. The effective date for COBRA continuation is the 1st of the month following the last day of coverage through the University System.

COBRA

The Consolidated Omnibus Budget Reconciliation Act (COBRA) is a federal law which gives employees and their dependents families who lose their health benefits the right to choose to continue group health benefits provided by their group health plan for limited periods of time under certain circumstances.

FAQs on COBRA Continuation Health Coverage for Workers

Flexible Spending Account

Contributions to your Healthcare FSA will also end when your employment with USG ends, unless you want to continue contributing on an after-tax basis through COBRA coverage. If you choose not to contribute through COBRA coverage, then any unused funds in your account may be used for expenses incurred on or before your last day of employment.

Health Savings Account

Since you are the owner of the Health Savings Account (HSA), you may continue to utilize it for IRS-qualified medical expenses until the funds are depleted.

Retirement Plans

Consult with a financial advisor to find out what option works best for you. Once you have made a decision, contact the vendor directly for information on how to proceed.