Question

how long do insurance benefits last after you quit a job?

hi, if i quit my job today, i work for a large bank/mortgage corp. anyhow, if i quit today, does my insurance IMMEDIATELY end or does it go until the end of the month in which i quit?

6 years ago - 4 answers

Best Answer

Chosen by Asker

In most cases health insurance continues until the end of the month (or in the case of my last employer the end of the following month that you terminated employment). You'd best check with your employer's HR department for verification.

After this time you can continue your health insurance by utilizing COBRA coverage.(But of course that is expensive).

Hope this helps!

6 years ago

Other Answers

It depends on how your employer set up your policy - could go either way.

If you have a copy of your Summary Plan Document/Certificate of Coverage (the big booklet that's your official policy document), then it will specifically state in there which option your health plan has. Generally under a section titled "termination of coverage" or something to that effect.

In my experience (having seen thousands of benefit plan designs), its close to a 50-50 split, with possibly a few more employers using the end of the month option.

But the only way you can know for sure is to either check your policy or ask your HR/benefits rep.

Source(s)

by sarah314 - 6 years ago

most employers the coverage ends at the end of the month you were released. I say this because premiums are paid prior the month you are working. Check with HR to be certain.

by Steve S - 6 years ago

In most cases til month end if you have premiums paid monthly. COBRA is available for 18 months, but you have to pay the full premium as an aftertax expense.

by e-Giftology.com - 6 years ago