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Resignation or TerminationWhen Benefits Coverage EndsAll coverage ends at midnight on the last day of the month in which the individual's employment terminates, except long term disability and accidental death and dismemberment, which end at midnight on the day the employee terminates. Once terminated, eligible employees and covered dependents qualify for continued coverage through COBRA. A Certificate of Coverage will be mailed to the employee's home address after coverage ends. Continuing Benefits CoverageFederal and state laws permit you to continue your medical, dental, vision, and life coverage at your own cost. This is called COBRA continuation of coverage. Changes in Your Retirement PlansThe information below describes the participants’ options and responsibilities associated with ending employment at the University of Oklahoma. These links are for informational purposes only and are not intended to be a legal interpretation of retirement benefits.
Unused LeaveEmployees will be paid their leave balances up to their annual accrual amount. Flexible Spending AccountsIf you end employment and you have unspent money in your Health Care Flexible Spending Account, you can claim reimbursement only for service dates up to the last day of your termination month. You can protect your unspent balance by extending your Health Care Flexible Spending Account through COBRA and continuing your contributions through the end of the calendar year. If you elect to continue your Health Care Flexible Spending Account through COBRA, the plan will terminate at the end of the current calendar year subject to the same service deadline and claims filing deadline as the active employee plan. Additional ChangesUpdate your address in Employee Self-Service Update your address with your retirement plan company. |
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