Leaving Acme

Consider your benefit options upon leaving Acme

• Medical, dental, and vision plans — In most cases, you have the option to continue your medical coverage through COBRA. You will pay the full premium cost of these plans, plus an administrative fee, without any subsidy from Acme.
• Flexible Spending Accounts (FSA) — If you participate in an FSA, you can continue using your FSA(s) if you elect COBRA, which will allow you to continue spending any remaining balance in your account(s) at the time of your termination. You may not contribute any additional amounts to your account(s).
• Health Savings Account (HSA) — If you participate in an HSA, you will continue to own your account after you leave Acme. You will not forfeit any unused balance, and you do not need to enroll in COBRA to access your HSA funds. However, your payroll contributions will end once your employment ends. If you wish, you may make after-tax contributions and then deduct them on your income tax return.
• Supplemental life insurance — Contact your life insurance carrier directly if you’d like to continue your life insurance coverage as an individual policy.

Decide how to handle your retirement savings

In addition to the above benefit options, if you participate in the {SAVPLAN}, you can roll over your vested account balance into another qualified plan through a new employer or into an Individual Retirement Account (IRA).

If you have a balance of $1,000 or more, you have the option of leaving your account balance in the plan, although your payroll contributions and Acme’s matching contributions will end when your employment ends.

If you participate and are vested in the Acme pension plan, you are eligible to receive a benefit at the time of your retirement. Contact the HR Service Center to learn more.

Review your retiree benefit options

If you’re retiring from Acme, it’s important to consider your future health care needs and your benefit options — through both Medicare and Acme.

Acme understands that your health needs don’t end once you retire. In many ways, your health becomes a more important part of your everyday life. That’s why we offer retiree medical and dental benefits, so that, if you choose, you can continue your coverage after you retire from the company.

If you are not Medicare eligible:

• The CDHP Plan and PPO Plan plans are available to retirees and eligible dependents who are not yet Medicare-eligible.
• You may elect to enroll in a dental plan (Basic Plan or Premium Plan) once you retire.
• You may opt in or opt out of the dental plans during future Open Enrollments, as long as you are enrolled in one of the medical plans.
• Once you waive retiree medical, you also will waive the dental benefit and cannot re-enroll in retiree benefits at a later date.

If you are Medicare eligible:

• You may enroll in the Acme Medicare Supplement medical plan to provide coverage in addition to Medicare. You must enroll in Medicare first, so be sure to do so promptly.
• You may elect to enroll in a dental plan (Basic Plan or Premium Plan) once you retire.
• You may opt in or opt out of the dental plans during future Open Enrollments, as long as you are enrolled in the Acme Medicare Supplement medical plan.
• Once you waive retiree medical, you also will waive the dental benefit and cannot re-enroll in retiree benefits at a later date.

To enroll in retiree health benefits:

• You must enroll within 30 days following your last day of employment. If you don’t enroll during this 30-day window, you will forfeit your eligibility in the future.
• Call 1-800-123-4567 from 8 am to 7 pm ET or enroll online on the Acme Enrollment website.

Understand how to enroll in Medicare

If you are eligible for Medicare, here’s some information to help you understand the benefits available to you and when to enroll.

Your Medicare benefits are divided into three parts:

• PART A covers inpatient hospital services.
  In addition to inpatient hospital services, Part A covers care in a skilled nursing facility (SNF) or hospice. Note that it does not cover outpatient Emergency Room visits. You're eligible to sign up for Part A during the seven-month Initial Enrollment Period (IEP), which begins three months before you turn 65 and continues until the last day of the third month after your 65th birthday. It is essential that you sign up during the IEP or you may have to pay a late enrollment penalty. For the majority of people who sign up on time, Part A is premium free.
• PART B covers doctor visits and preventive care.
  There are specific timing requirements involved in signing up for Medicare Part B. If you delay past these specific enrollment timelines, you will pay a higher monthly premium. You can sign up for Part B within your first eligible IEP without paying higher monthly premiums. You also will have the opportunity to enroll in Part B during the eight-month Special Enrollment Period (SEP) after your Acme employee health benefits end without paying a late penalty.
• PART D covers prescription drug costs through a private insurance plan approved by Medicare. The Medicare Supplement medical plan offered to you provides coverage that can take the place of Medicare Part D. Keep in mind: If you don't enroll in Part D during the IEP or within exactly 63 days after your employer-provided drug benefits end, you will have to pay a penalty, and drug benefits may be delayed, causing you to have to pay retail cost for expensive prescriptions.

Visit www.medicare.gov for more information.