If you leave Veradigm
When your employment with Veradigm ends, so does your participation in many of the Company’s benefit plans. Here is an overview of things to consider when your Veradigm employment ends.
When my benefits will end
|When Benefits End
|Medical, Dental, Vision, Healthcare FSA*, Dependent Care FSA, Commuter Spending Account, EAP
|Last day of month in which your employment ends
If you need a certificate of credible coverage, please contact Cigna at 800.Cigna24.
|Health Savings Account (HSA)
|No future pre-tax contributions will be made after your termination date; your HSA belongs to you, so you take it with you when you leave.
|Basic Life, Basic AD&D, Voluntary Life, BTA, STD, LTD
|Your termination date
|Life and AD&D
|May be portable or convertible if you elect an option within 31 days of termination date
|Forfeited on termination date unless prohibited by state law
|Savings Plan (401k)
|Deferrals will come out of post-severance eligible compensation as stated in the plan document; you may request a distribution from the Plan Administrator.
|Employee Stock Purchase Plan (ESPP)
|Participation ends on your termination date; you continue to own stock purchased during employment but are not eligible to make additional stock purchases
|Tuition Reimbursement Program
|Your termination date
* In the event that the content of this document or any oral representations made by any person regarding the plan conflict with or are inconsistent with the provisions of the plan document, the provisions of the plan document will control. Plan documents can be found on the Benefits Intranet page.
**If you are participating in the Healthcare FSA on your termination date, you may be able to continue making after-tax contributions by electing COBRA.
***Terminated associates have 90 days to submit paperwork for FSA claims that were incurred while employed by Veradigm.
What happens to my benefits
Your Veradigm-provided life insurance, AD&D and all elected voluntary employee, spouse, and dependent life insurance and AD&D ends on your final day of employment. You have the option to port or convert your Veradigm-provided life insurance as well as all elected voluntary life insurance coverage (employee, spouse and child). Your Basic and Voluntary AD&D is convertible but is not portable. Cigna will send you information on all options relevant to you via USPS mail. Questions regarding continuing coverage can be directed to Cigna’s customer service office at 800.423.1282. All forms and payments are due to Cigna within 31 days of your separation date.
Health Savings Account
You own your Health Savings Account and the funds you and Veradigm have contributed to it. If you are enrolled in the Cigna HSA, you can contact HSA Bank at 800.Cigna24 to get information regarding your account.
If you are enrolled in the Kaiser HSA, you can contact 1-877-761-3399 to get information regarding your account.
Unused Paid Time Off (PTO)
If you are an active associate and have additional questions regarding PTO, please submit a service request at the HR Service Portal. If you are terminated and have lost your access you should email HR.firstname.lastname@example.org.
Short- and long-term disability coverages
Short-Term Disability (STD) and Long-Term Disability (LTD) coverage ends on your last day of employment with Veradigm. These coverages cannot be converted to an individual policy.
If you want to rollover funds to another plan, update your mailing address or ask other questions, you can contact Charles Schwab at 800.724.7526 or log in at www.workplace.schwab.com.
Your separation date will typically be communicated to Charles Schwab within five business days of your last paycheck, and Schwab will send you information about your distribution options.
If you have a loan, you have 90 days from your termination date to pay off the loan in full. If your loan becomes delinquent, it will constitute a deemed taxable distribution from the plan, and you may be subject to an excise tax and other adverse tax consequences. If your employment ends, you may also continue to pay your loan payments directly to Charles Schwab under the terms of the plan. Contact Charles Schwab for additional details and review how to keep your retirement savings working after you leave your job.
Stock benefit plans
If you have questions about your Veradigm ESPP, Veradigm Restricted Stock or Legacy Veradigm Stock Options, you can contact eTrade at 800.838.0908 or www.etrade.com.
If you leave Veradigm and continue medical coverage through COBRA and are Medicare-eligible, COBRA benefits depend on when you become entitled to Medicare:
- If your Medicare benefits (Part A or Part B) become effective on or before the day you elect COBRA coverage, you can continue COBRA coverage as well as having Medicare. This is true even if your Part A benefits begin before you elect COBRA but you don’t sign up for Part B until later. In this situation, Medicare is always primary to COBRA coverage.
- If you become entitled to Medicare after you’ve signed up for COBRA, your COBRA benefits cease. (But if COBRA covers your spouse and/or dependent children, their coverage may be extended for up to 36 months because you qualified for Medicare.)
Please refer to the “Medicare and You” Booklet from the Centers for Medicare Services as a resource regarding questions about Medicare. This booklet can be found on the www.cms.gov website along with other great resources regarding Medicare.
Employees should notify their HR Business Partner regarding retirement from Veradigm.
The Consolidated Omnibus Budget Reconciliation Act or COBRA allows former associates and their dependents to continue health coverage at group rates for a limited period of time.