Benefits.Veritas.com Veritas.com

COBRA Benefits

Health insurance (Medical, Prescription, Behavioral Health, Employee Assistance Program, Dental and Vision benefits) will continue through the last day of the month in which your employment with Veritas ends. All other benefits end on your termination date. 

The Consolidated Omnibus Reconciliation Act (COBRA) extends to you the right to continue, at your own expense, health benefits for you and your covered dependents if you lose coverage due to a "qualifying event," for up to a specified amount of time; in most cases, 18 months. Information about COBRA, including qualifying events, can be found on the Department of Labor's FAQ about COBRA.

Should you choose to continue coverage under Veritas' plan, your coverage or that of your dependent(s) will commence on the first day after your coverage for the regular group health benefits ends. You will be required to pay monthly premiums and a 2% administration fee. Should you become eligible for COBRA, you may elect any or all of the following options:

  • Your current health care program, prescription program, and Employee Assistance Program (EAP) coverage
  • Your current Dental Care Coverage
  • Your current Vision Care Coverage
  • Your Health Care Flexible Spending Account (until the end of the current plan year)

Eligibility

If you and your eligible dependents are currently covered under Veritas' Health Care plans, you and your eligible dependents, including Domestic Partner, could be eligible to continue coverage in the event you no longer qualify to receive these benefits.

COBRA coverage will terminate if you elect benefits coverage with another employer group health plan. If you elect benefits coverage with another employer group health plan, you will need to notify MyVeritasBenefits and terminate the Veritas COBRA plans.

COBRA 2019 Rates

Carrier Location Individual Individual + Spouse Individual + Child(ren) Family Group Number
Anthem HSA U.S.

$560.95

$1,234.09

$1,009.71

$1,682.85

3338943
Anthem PPO U.S.

$674.06

$1,482.93

$1,213.30

$2,022.17

3338943
Kaiser HMO California Only

$591.16

$1,179.53

$886.75

$1,668.26

604845 Northern
232649 Southern
MetLife Dental 1.0 U.S.

$37.50

$75.01

$56.23

$108.77

313552
MetLife Dental 2.0 U.S.

$52.47

$104.98

$78.71

$152.25

313552
MetLife Dental 3.0 U.S.

$85.69

$171.40

$128.54

$248.54

313552
Vision Service Plan 1.0 U.S.

$8.70

$17.39

$13.04

$25.22

30058386/0006/0006
Plan B-1.0
Vision Service Plan 2.0 U.S.

$31.58

$71.53

$47.36

$91.59

30058386/0006/0006
Plan B-2.0

Important Timeframes

  • You will receive an enrollment packet, typically, within 3 weeks of your termination date from Veritas
  • Veritas is required to notify MyVeritasBenefits, Veritas' COBRA administrator, of an employee's COBRA qualifying event within 30 days after an employee's termination
  • Plan participants (terminated employees) are sent an election notice no later than 14 days after MyVeritasBenefits receives the notice from Veritas that a qualifying event has occurred
  • You have 60 days from the date that your enrollment packet is mailed to you to decide whether to elect COBRA continuation coverage 
  • After electing COBRA coverage, you have 45 days to pay any initial premium, for example for Health Care FSA
  • If you elect other medical coverage, i.e. from a new employer or an individual plan, you will need to contact MyVeritasBenefits to terminate your COBRA coverage
  • Veritas can terminate your COBRA coverage if you become covered under another group health plan.   

 

Payments

Once you make your COBRA election, MyVeritasBenefits will generate and mail payment coupons to you.

You must remit your initial payment no later than 45 days from the date you send your election form to be reinstated with the insurance carrier. Once MyVeritasBenefits receives your initial payment you are reinstated retroactive to the date your active coverage ended.

Once you make your initial premium payment your regular monthly premiums are due on the first of each month. You have a thirty-day grace period from the due date to remit each month's premium. COBRA Election

 

COBRA Election

Elections can be made online, via fax, or you can mail in the election form received via mail. Full details will be provided on your Cobra election notice.

 

Changing Elections
While on COBRA, you have an opportunity to make changes during the annual open enrollment period generally held in November. MyVeritasBenefits, Veritas' COBRA administrator, will send your notification and information about open enrollment as well as any plan or rate changes.

 

When will COBRA coverage end?

COBRA will end on the earliest of the following:

  • When the COBRA coverage period expires
  • On the date the Company ceases to provide health care coverage to any employee
  • On the date a qualified beneficiary becomes covered, after electing COBRA coverage, under any other group health plan
  • A qualified beneficiary fails to make a timely payment to MyVeritasBenefits
  • On the date a qualified beneficiary becomes covered under Medicare (Part A, Part B, or both), after the date of the COBRA election.
  • Continuation coverage may also be terminated for any reason the Plan would terminate coverage of a participant or beneficiary not receiving continuation coverage (such as fraud).

For more information on COBRA, contact the plan administrator, MyVeritasBenefits at 1-844-770-0435.

 
Copyright 2015 Veritas Technologies. All rights reserved.