The eligibility and enrollment rules for the U
The eligibility and enrollment rules for the U
The eligibility and enrollment rules for the U
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Retiree Health Care SPD Effective January 1, 2012<br />
be responsible <strong>for</strong> <strong>the</strong> premiums due <strong>for</strong> retiree coverage back to <strong>the</strong> effective date of your retiree<br />
health care coverage.<br />
Deciding Between Retiree Health Care Coverage <strong>and</strong> COBRA Health Care Coverage.<br />
Separate from <strong>the</strong> Program <strong>enrollment</strong> in<strong>for</strong>mation, you <strong>and</strong> any o<strong>the</strong>r covered dependents will<br />
also receive in<strong>for</strong>mation on continuing <strong>the</strong> health care coverage you were enrolled in as an active<br />
employee under <strong>the</strong> provisions of COBRA. Each of your covered dependents will have an<br />
independent right to decide whe<strong>the</strong>r to elect COBRA.<br />
You <strong>and</strong> your covered dependents will need to decide whe<strong>the</strong>r to elect:<br />
• Retiree Health Care Program coverage; or<br />
• COBRA health care coverage.<br />
By electing Retiree Health Care Program coverage, you will waive your COBRA health care<br />
rights. You may, however, revoke such waiver at any time during <strong>the</strong> 60-day COBRA election<br />
period.<br />
If you elect COBRA health care ra<strong>the</strong>r than retiree health care coverage under <strong>the</strong><br />
Program, you will not have an option to enroll in <strong>the</strong> Program when you ei<strong>the</strong>r stop or<br />
exhaust your COBRA health care coverage.<br />
It is important to carefully compare <strong>the</strong> benefits of COBRA health care versus retiree health care<br />
coverage in making this decision. If you have questions about <strong>the</strong> two types of coverage, contact<br />
<strong>the</strong> U.S. Bank Employee Service Center at 1-800-806-7009.<br />
One-Time Option to Enroll in Retiree Program. <strong>The</strong>re is a single point of entry into <strong>the</strong><br />
Program – at <strong>the</strong> time of your termination. This means that if you do not enroll yourself<br />
<strong>and</strong> any eligible dependents in <strong>the</strong> Program by <strong>the</strong> <strong>enrollment</strong> deadline stated on your<br />
<strong>enrollment</strong> worksheet, you will not be able to enroll yourself <strong>and</strong>/or your dependents in<br />
retiree health care coverage at any time in <strong>the</strong> future.<br />
If, <strong>for</strong> example, at <strong>the</strong> time you terminate, you elect COBRA health care or coverage under a<br />
spouse’s/domestic partner’s plan or a new employer’s plan, instead of coverage under <strong>the</strong><br />
Program, you will not be able to enroll in <strong>the</strong> Program at <strong>the</strong> time your COBRA health care<br />
continuation period or o<strong>the</strong>r coverage ends. Similarly, you must enroll any eligible dependents in<br />
<strong>the</strong> Program at <strong>the</strong> time of your termination to retain <strong>the</strong>ir coverage. <strong>The</strong>re<strong>for</strong>e, if you <strong>and</strong>/or a<br />
dependent want coverage under <strong>the</strong> Program at any point after your termination, you must enroll<br />
<strong>the</strong>m when you terminate. You may, however, have <strong>the</strong> right to add new dependents gained after<br />
your termination. Refer to <strong>the</strong> “New Dependents Gained After Your Termination” section <strong>for</strong><br />
more in<strong>for</strong>mation.<br />
New Dependents Gained After Your Termination. If you gain a dependent after you terminate<br />
due to marriage, commencement of a domestic partnership, birth, adoption or commencement of<br />
a legal guardianship, your new dependent may be eligible <strong>for</strong> coverage under <strong>the</strong> Program if <strong>the</strong><br />
following requirements are met:<br />
• You must enroll your new dependent within 60 days of <strong>the</strong> date <strong>the</strong>y first become your<br />
dependent after your termination; <strong>and</strong><br />
• Your new dependent continues to satisfy <strong>the</strong> requirements of an “eligible dependent”, as<br />
defined in <strong>the</strong> “Dependent Eligibility” section.<br />
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