Leaving Smith

Your college-provided health insurance coverage will end on the last day of your employment.  Depending on your circumstances, below is information on alternative coverage options.

COBRA Coverage

The Consolidated Omnibus Budget Reconciliation Act of 1985, otherwise known as COBRA,is a law that allows employees to temporarily continue (for up to 18 months) their current health, dental, vision, Employee Assistance Program (EAP) and Flexible Spending Account elections when their employment ends. 

COBRA enrollment materials, including instructions and pricing details, will be mailed to your address on record by the College’s COBRA Administrator.  While generally enrollment materials arrive via mail shortly after your last day of employment, if you elect COBRA coverage, it begins on the day after the last day of coverage through Smith College so there is no break in coverage. The cost is the full premium (employer + employee portions) plus a 2% administrative fee. 

It is your responsibility to enroll within the date specified in the enrollment materials and to pay premiums to the COBRA Administrator. In the event of nonpayment, benefits will be terminated with no option for reinstatement.

Early Retirement Option 

Employees who participate in the College’s health plans (medical, dental and/or vision) and who retire at or after age 62 and before age 65 with 10 consecutive years of service may participate in the college’s early retirement program. Through this benefit program, retirees can continue their health plan coverage for themselves and their spouses until age 65. The college contributes 50% of the employer contribution until the retiree reaches age 65.  

To apply for the ERO, employees must contact the Benefits department (hrbenefits@91ciba.com) and complete a "Benefit Election Form for Early Retirees”.

Medicare

Medicare advises individuals to enroll in Medicare Part A (hospitalization) three (3) months before turning age 65, even if actively employed. Because there is a premium for Medicare Part B (medical), Part D (prescription), and Medicare supplemental plans, employees often don’t enroll for these coverages until three (3) months before their group health coverage through Smith College will end. To start learning about Medicare, please visit the Medicare website.

Note: if you do not enroll by the end of the Medicare Enrollment Period that applies to your situation, the Social Security Administration may impose an ongoing premium penalty for each 12-month period that you could have had Medicare Part B but did not sign up. 

There are different Medicare Enrollment Periods for different situations. We recommend that anyone nearing retirement contact their local Social Security Administration office, or contact Social Security via the website at www.ssa.gov, and review www.ssa.gov/pubs/10043.html for more information regarding applying for Medicare.