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GaBreeze Webinar COBRA & Retirement

GaBreeze Webinar COBRA & Retirement. SUMMER 2010. Session Purpose. Topics to Discuss COBRA Retirement. COBRA. COBRA. Employees who Terminate COBRA is triggered for an employee when a termination event is entered for an employee (PeopleSoft or Employer Web Site)

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GaBreeze Webinar COBRA & Retirement

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  1. GaBreeze WebinarCOBRA & Retirement SUMMER 2010

  2. Session Purpose • Topics to Discuss • COBRA • Retirement

  3. COBRA

  4. COBRA • Employees who Terminate • COBRA is triggered for an employee when a termination event is entered for an employee (PeopleSoft or Employer Web Site) • GaBreeze will send communications to the terminated employee and each dependent • Confirmation of Terminated Coverage Notice • COBRA Information and Enrollment Notice • Conversion/Portability Notice (if applicable)

  5. COBRA • Enrollment Process • Participants will enroll in COBRA through GaBreeze • Employees can enroll online or through the GaBreeze Benefits Center • Dependents are required to enroll through the Benefits Center • GaBreeze will process the COBRA enrollment and send bills directly to participants; participants will remit payments to GaBreeze • Participants will have 60 days to enroll based on the employee’s termination date • Participants will contact GaBreeze with questions OR to cancel their COBRA enrollment

  6. COBRA • Billing • First direct bill for COBRA will be based on the status change (i.e. Termination Date) • Termination Date is July 15th: First COBRA Direct Bill will start for August coverage • Termination Date is July 22nd: First COBRA Direct Bill will start for September coverage • Billing address: State of GeorgiaP.O. Box 0555Carol Stream, IL 60132-0555

  7. Retirement

  8. Retirement • Employees who Retire • Benefit Professional enters a retirement status • GaBreeze will mail a Confirmation Kit • Retiree Dental information and COBRA information (Vision and Health Care FSA) if currently enrolled • Retiree Dental is automatic; no enrollment form required • Retiree can enroll in COBRA Vision and/or Health Care FSA • GaBreeze will direct bill participant and send any premium updates • Contact GaBreeze to make option/coverage changes • The Confirmation Kit also includes phone numbers to the other vendors for switching coverage to an individual policy

  9. Retirement • Life Insurance Options • Retirees have two options in taking the Life Insurance Options: Conversion or Portability • Conversion switches the Life options to a Whole Life policy • No age reduction in coverage up to age 100 • Acquires a cash value • Premium increases once to the whole life premium and remains the same: “Converted Level Premium” • Portability keeps the Life options as a Term Life policy • Coverage reduces based on age (starting at age 65) • Premium increases every 5 years • Coverage can be converted to a whole life policy at any time

  10. Retirement • Life Insurance Options – Portability Age Reduction

  11. Retirement • Accidental Death & Dismemberment Insurance Option • Retirees may take the AD&D option through Portability only • Level premium based on a flat rate and coverage amount • Maximum coverage: $150,000 • Coverage reduction based on age:

  12. Retirement • Specified Illness Insurance Options • Retirees may take the Specified Illness option(s) through Portability only • Eligibility Requirements • Had coverage at least 6 months prior to retirement • Under the age of 70 • Premium(s) will remain the same • Coverage reduces by 50% once age 70 is reached

  13. Retirement • Long Term Care Insurance Option • Retirees may take the Long Term Care as an individual policy • Premium will remain the same • No coverage reduction based on age • Survivor’s Benefit (if applicable)

  14. Retirement • Legal Insurance Option • Retirees may keep the Legal Insurance for the duration of the Plan Year in which they terminate (i.e. December 31st) • Premium will remain the same

  15. Reminders

  16. Support Avenues for Benefit Professionals(SPA Web Site) • SPA web site online resources • Job Aides: • http://www.spa.ga.gov/employees/flexible_benefits.asp • Click on Employer Reference Materials for GA Breeze to view job aides • Job Aides are for General information, SMART Forms, and Reports

  17. SPA Web Site Job Aides (Screen shot)

  18. Support Avenues for Benefit Professionals • The SPA Team • Team will continue to be agencies’ first point of contact • Respond to questions about business rules, business processes • Support use of the Employer Web Site • Answer questions about Employer Web Site reporting • Work with Hewitt to resolve data issues 1-888-968-0490 or 1-404-656-2730 Monday – Friday, 8:00 am – 4:30 pm ET excluding holidays

  19. Support Avenues (Employees/Participants) Benefits Call Center 1-877-3GBreez or 1-877-342-7339 Monday – Friday, 8:00 am – 5:00 pm ET excluding holidays Website www.GaBreeze.ga.gov Link on Team Georgia Flexible Benefits tab

  20. Final Questions and Follow-ups

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