Qualifying Life Events
Transitions
- Qualifying Life Events
- COBRA/Continuation of Group Healthcare Coverage
- Planning to Retire?
- Important Benefits Info for Employees Separating from the University
- Health Plan Coverage for Eligible Dependents (over age 26 until 31) under Chapter 375
Qualifying Life Events
When a qualifying life event occurs, it is time to make contact Benefits Office.
What is a qualifying life event?
A qualifying life event (QLE) is a term to describe events deemed acceptable by the IRS that may allow State Health Benefits Program (SHBP) participants to change their participation election outside of the open enrollment period.
Qualifying life events that may allow you to change your election include:
- A change in martial status (marriage or divorce)
- A change in dependent status (birth/adoption of a child)
- A change in employment status (including a change in your spouse’s employment status) or an unpaid leave of absence.
If you experience a qualifying life event, notify the Benefits Office immediately. Your Benefits Associate will let you know if you are eligible to change your benefits coverage. You have sixty (60) days from the date of the event to make any changes.
Documentation may be a copy of a marriage license, birth certificate, etc. You may want to remove or add beneficiaries, as well.
If your address has changed due to a qualifying life event, please visit Employee Portal – Home (sharepoint.com) to update your address. Also, you may contact the Benefits Office to update your new address with your insurance provider.
To update your W-4 information, please visit Employee Portal – Home (sharepoint.com).
COBRA (Consolidated Omnibus Budget Reconciliation Act)
Administered by the NJ Division of Pension and Benefits
What is COBRA?
COBRA (also known as the Consolidated Omnibus Budget Reconciliation Act) gives eligible employees and dependents the opportunity to purchase continued health benefits for a limited period of time.
Who is eligible for COBRA?
Employees enrolled in the State Health Benefits Program may continue coverage under COBRA, in any plan that the employees is eligible for, if coverage ends because of one of the following COBRA qualifying events:
- Termination of employment for reasons other than gross misconduct
- Reduction in working hours
- Leave of Absence
A spouse or eligible civil union or domestic partner of an employee enrolled in the State Health Benefits Program (SHBP) if they experience one of the following COBRA qualifying events:
- Death of the employee
- End of employee’s eligibility due to reduction in working hours, leave of absence or termination of employment for reasons other than gross misconduct
- Divorce or legal separation, termination of a civil union or domestic partnership
- Election of Medicare as the employee’s primary insurance carrier (requires dropping the group coverage carried as an active employee)
Dependent children may continue their health benefits coverage under COBRA due to:
- Loss of dependents eligibility (attains age 23, moving out of the household, marriage, or entering into a domestic partnership)
- Death of the employee
- End of employee’s eligibility due to reduction in working hours, leave of absence or termination of employment for reasons other than gross misconduct
- Election of Medicare as the employee’s primary insurance carrier (requires dropping the group coverage carried as an active employee)
How long will COBRA last?
- Up to 18 months when issued due to loss of employment
- Up to 36 months when issued due to death, divorce of an employee/other dependent ineligibility
Benefitsolver will mail a COBRA Notification packet to the employee’s home address at the time of COBRA eligibility. This packet is inclusive of the following information:
- COBRA Notice – Health Plan Continuation Coverage Eligibility
- Certificate of Group Health Plan Coverage
- COBRA Enrollment Application and current rate chart
- Fact Sheet #31 – Health Benefits Options When Terminating Employment
- Fact Sheet #30 – Continuation of New Jersey State Health Benefits Program Insurance Under COBRA
The employee or employee’s dependents have sixty (60) days from the date of employer notification or the last date of health coverage to elect continued coverage. A properly completed New Jersey State Health Benefits Program COBRA Application must be submitted within sixty (60) days to the State COBRA Administrator. Please visit the Division of Pensions and Benefits website and on + Access Benefitsolver then log in via MyNewJersey or Register (if you have not done so already) and you can download your COBRA Notification.
Planning to Retire
- Contact the Benefits Office to schedule a retirement counseling session with your Benefits Associate.
- Planning for your retirement seminars are usually in the spring of each calendar year
- For detailed information please click here
- PERS – Public Employees Retirement System
- ABP – Alternate Benefits Program
Important Benefits Information for Employees Separating from University Hospital
If you are separating/ terminating employment from University Hospital, here are key points to consider:
- Continuation of medical, dental & prescription drug coverage through COBRA
- Your pension plan
- Continuing Life Insurance benefit
- Voluntary Tax Sheltered Plans
- Tax$ave Program
- Commuter Tax$ave Program
- Vacation, sick and float time
- Unemployment benefits