Does anyone know if they extend health and dental benefits ,by any amount of time (?), after they lay you off? Do you have time to get one last dental visit or refill prescriptions, etc?
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Voluntary package, sometimes, also sweeten your retirement benefit as well esp. if you are on DB - Defined Benefits plan
The voluntary package is also often "sweeter" to nudge people into taking it. Mine was 5.2 weeks per year.
I took it. There's no scenario under which it was every going to be "better".
Voluntary exit/separation - basically means that you see the severance package is so good, you want to volunteer yourself to be part of the restructuring (either you already have another offer, or you are so sure you may get another offer quick, or you are so close to retirement), vs the company picks you. In this case, you choose to separate from the company (most likely, they will pay you certain months of salary, including insurance coverage, without having you show up...etc) - the trick is how they calculate/determine the last pay day (day 1 of not having to show up to work, or end of the not-working-but-still-got-paid period - aka couple month later).
Involuntary layoff (aka company picks you) is different from voluntary - experiences from pervious oil & gas layoff - Imperial Oil.
Literally sentence #2 in the post. But voluntary exit in this context is, in fact, different from quitting. Legally they are not the same thing at all. The VO contract offer is considered a layoff in the legal sense. All the same rules apply, as far as the government and EI benefits (for instance) is concerned. It's a layoff offer extended that you are asked to agree with.
For example, you aren't given a lump sum bribe to go away. You are specifically paid out a certain number of weeks - which for EI translates to a certain number of weeks before you can apply for coverage. I.e. if you're paid out 30 weeks, you can't apply for EI for 30 weeks.
Voluntary exit (aka you quit) is different from layoff
I will share the exact text from the voluntary package. Now that's "voluntary exit", and not "layoff", but the mechanism is probably the same.
Benefits: Your active employee coverage ceases on your final pay date. You have 90 calendar days from that date to submit claims. You can also apply and pay for individual medical and dental insurance coverage under the "My Health Choice" program without proof of medical evidence provided you apply within 60 days of your benefit termination. Call Sun Life.
No benefits if you layed off you done. Just like any other times when you leave the org.
Your severance package information will spell it out clearly for you. Your insurance coverage, 99.9999% sure that will NOT end right away, but also will not extend to your full severance period. For example, for some long-timer who will get like 1 or even 2 year severance pay, the insurance will not cover / extend to 1 or 2 year. Normally, it is between 3 to 6 months from your last working day.
Anyways, schedule all of your dental visits (for your family), prescription glasses, eye exams and any needed prescription immediately regardless. If you have extended health, schedule you physio, massage, etc. as well.
I think all the different responses to an important question shows that these generic one pager Q&As are
worthless.
You'll see coverage end on your last day, but you'll likely have 90 days to submit any final claims.
You'll probably also be offered a "bridge" plan from the provider that's comparable to your existing coverage. Perhaps slightly more costly, but similar structure.
From pretty much every employment Lawyer website in Canada, see direct quote below. You can also google it and you will see.
"all benefits, including extended health benefits, STD and LTD insurance, RRSP contributions, pension contributions, and other perquisites should be continued during the notice period or length of serverance – or the employee should be compensated for the value of any items that are not being compensated"
Every situation I’ve seen in my 20+ years in the industry is that your health/dental premiums are paid through the month someone is laid off. Premiums are paid a month forward. They don’t get a refund on it just like you wouldn’t if you got one on your own and quit it mid month. Cobra takes a few weeks to process. So yes, benefits are terminated day of but your premiums have already been paid. My advice would just go ahead and schedule those appointments in February. If I’m completely wrong, then worse thing is you cancel.
Thank you! I didn't realize info had been posted to elink about it.
Go to the link in Greg’s email where you will find the Q&A that has some info on that.
When you get layed off it’s an immediate void of you’re insurance in this instance..
Generally no. It gets cut off with the end of your employment unless you are an exec.