Agenda Packets - 2011/05/02 - Laserfiche WebLink

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Life Insurance Continuance of Coverage Whenever a covered employee ceases employment with the City, insurance coverage will be discontinued on the first day of the month following the date of termination. Pursuant to State Law, a terminating employee may elect to continue life insurance for a period up to 18 months at the terminating employee’s expense. Health/Dental Continuance of Coverage Employees are notified by the City’s group health care provider and the City regarding dental continuation coverage. B. RETIREMENT BENEFITS (CHAPTER 488) If an employee is retiring and is eligible for a retirement annuity or is receiving disability benefits from a Minnesota Public Retirement Plan such as PERA, the employee may remain on Mounds View’s group health/dental insurance plan programs indefinitely, at their own expense, provided the employee continues to reside within the health/dental plan’s service area. When the former employee reaches age 65, the City may transfer the former employee and covered dependents to a non-active employee pool. This “indefinite” continuation is made available under Minn. Stat. § 471.61, also known as “Chapter 488.” Retiring employees who wish to continue purchasing insurance coverage through the City will be asked to elect their continuation through COBRA or through Chapter 488. C. FLEXIBLE BENEFITS Dependent Care Expenses Employees can submit claims for dependent care costs, which were incurred before leaving City employment, until December 31 of the plan year. Dependent care expenses incurred after the employee leaves the City are not eligible for reimbursement. Other Medical Costs Employees may continue to file reimbursement claim forms for “Other Medical Costs” after termination of employment or reduction in hours. Claim forms can be submitted through the end of the plan year on the Fridays, which are scheduled as Flex Claims Due days. OR Employees can continue to participate in the Flexible Benefits Plans on an after-tax basis for up to 18 months, in which case claims for expenses incurred after the termination/reduction in hours date may be submitted. Further information on continuing Flexible Benefits participation is provided when the employee leaves employment or reduces their hours below benefit earning levels. Conflicts with Federal/State Law This policy is intended to be a general summary of these laws. If this information conflicts with the applicable Federal Law or State Statute, the law or statute will apply.