BENEFITS ELIGIBILITY (continued)
Employer Contribution As part of the employee compensation, ISLEEP provides contribution towards the benefit monthly premiums as follows:
75% of monthly premium for Employee only ( based on the Silver Plan )
Medical*
Dental
100% of monthly premium for Employee only
Vision
100% of monthly premium for Employee only
Basic Life/AD&D
Employee coverage only. This is an employer-paid benefit.
Employee may buy-up to the Anthem Blue Cross Gold PPO plan by paying the monthly cost difference via payroll deductions.
If You Waive Coverage If you choose to waive the medical and dental insurance when you are first eligible to enroll, you may only enroll if you have a qualifying family status event, or at the next open enrollment. If you are a late entrant to the dental plan, you will have waiting periods of certain benefits. If you would like to waive any of the coverages that ISLEEP offers, please see your Human Resources rep and complete the appropriate form declining the coverages .
If You Leave Your Job Your employer-sponsored benefits will end on the last day of the month for medical, dental, and vision coverages, while for the life benefits, they will end on the last day of employment. You and your dependents who are covered under your medical/dental/vision have the right to continue participation in group health coverage as allowed under the Consolidated Omnibus Budget Reconciliation Act (commonly referred to as “COBRA”). You have 60 days from your notification date or coverage-end date to enroll in COBRA. If you enroll in COBRA, you will pay monthly payments for the full premium plus a small percent of administration fee. COBRA coverage is generally available for up to 18 months, with additional extensions available under certain circumstances. For more information, you may contact your Human Resources representative.
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