Please let us know as soon as possible if an employee is leaving your company by contacting us at firstname.lastname@example.org.
Can my employees keep their health insurance plan?
Employees departing your company have three options with respect to their insurance plan:
They can cancel their insurance plans. In this situation, the employee will continue to be covered until the last day of the month of their last date with your company.
- They can take over payments of the insurance plan. If your employee would like to keep their plan, they can take over payments from Venteur. You employee has up to 90 days after their last day to submit Health Wallet expenses provided the expenses were incurred while they were employed with you. After 90 days, the employee will forfeit any unspent money in their Health Wallet
- They can elect to enroll in COBRA. Under COBRA, Venteur will continue to pay your employee's premiums and will invoice the employee the full amount of their premiums plus a 2% administrative fee. Your employee will keep their Health Wallet balance until they unenroll from COBRA and can use it to pay for expenses incurred after their last day with the company.
Am I still responsible for paying my employee's premiums?
No. If you alert us of your employee's last day early enough, we will not invoice you for their premiums for the following month.
However, if you have already paid your invoice for the following month, we will reimburse you the cost of their premiums. Venteur will then recuperate the cost of their premiums by working with the insurance carrier or issuing a payroll deduction on your employee's final paycheck.