Benefits for Terminated Employees and COBRA
When you terminate employment with the University or transition to non-benefits eligible employment, your benefits run through the end of the month in which you terminate or lose eligibility. For example, if your last day is March 2 your benefits end March 31.
You may elect to temporarily continue to participate in certain University-sponsored benefits or to convert certain coverage to an individual policy directly with the sponsoring insurance company.
Read about COBRA BenefitsProof coverage has ended for employee or dependents
- Coverage will run through the end of the month in which you terminate employment.
- To request proof of prior coverage to enroll in a new medical plan, contact BCBSIL AFTER your coverage has terminated and request a Certificate of Credible Coverage.
- Northwestern do not routinely produce letters stating prior coverage. You should work directly with BCBSIL for this information.
COBRA: Continue health, dental, vision and your health care Flexible Spending Account (FSA)
- Under Federal law, you have the right to temporarily continue health, dental, vision and FSA health care account participation through COBRA.
- You pay the total monthly health, dental or vision premium plus a 2% administrative fee.
- To continue the health care FSA you must continue to make your regular monthly contributions after-tax for the remainder of the plan year.
Retirement Savings Plans
- Recordkeepers Fidelity and TIAA will be notified of your separation of employment AFTER you have received your final pay for time worked. For example, if your last day worked is March 2 your last paycheck for time worked will be on/around March 31. Therefore, your employment status will not be updated until one week after your final pay.
- To discuss conversion or distribution of your 403(b) accounts please call TIAA at 800- 842-2776 or Fidelity at 800-343-0860 directly.
Health Savings Account (HSA)
- The money you have in your HSA is yours to keep when you leave Northwestern.
- Funds can be used for future eligible expenses.
- You will be charged an administrative fee to keep your HSA active. You always have the option to move the funds from Northwestern's HSA to a different HSA after termination to avoid fees. Call Inspira Financial (formerly PayFlex) for more information: (800) 284-4885 (NUID 100398).
Continue life insurance
- MetLife will mail to your home address a letter. You may receive a call from a Barnum Financial Group professional, who has an arrangement with MetLife, who can answer your questions and provide guidance on continuation options.
- Some of your benefits decisions must be made within strict timelines. Make sure to read the letter you will receive at home; you are responsible for initiating the process within the appropriate time frames.
- Should you have any questions, please contact MetLife at 877-275-6387 to arrange for a financial professional to contact you directly or you can visit www.metlife.com/conversion. Review the What To Expect flyer from MetLife.
Some benefits may not be continued
- Tuition benefits may be continued through the end of the term of study only.
- Contributions to your 403(b) savings plan ceases upon termination. To discuss conversion or distribution of your 403(b) accounts please call TIAA at 800- 842-2776 or Fidelity at 800-343-0860 directly.