Terminating Employment
Because your benefits package is provided by Enterprise, your coverage will end when you terminate your employment with the company. However, some benefits allow you to continue
coverage at your own expense.
Be sure to notify your local HR department if you experience an address change.
COBRA Continuation of Coverage
When you terminate employment with Enterprise:
- Medical, Dental, Prescription Drugs and Vision coverage for you and your dependents ends on the last day of the benefit coverage period in
which you terminate employment;
- HCSA, DCSA, and LifeManagement Program coverage ends on your last day of active employment
For the benefits listed above, (except for DCSA) you may follow the COBRA enrollment process to elect continuation of coverage for you and your dependents for up to 18 months. (HCSA
COBRA coverage is offered until the end of the plan year for HCSA participants who were active in the plan at the time of termination.)
COBRA coverage is not available for Dependent Care Spending Accounts (DCSA).
If you terminate participation in the Health Care Spending Account and/or Dependent Care Spending Account at any time during the year, whether because of your termination of employment or the occurrence of a life-changing event or otherwise, you may submit a claim for reimbursement of eligible health care expenses after your participation ends. The expenses must have been incurred prior to termination of your plan participation and they must be submitted for reimbursement within 90 days of termination of your plan participation.
Any funds in your Dependent Care Spending Account and/or Health Care Spending Account that are left unclaimed at the end of the 90-day run out period will be forfeited per IRS regulations.
Basic Life and AD&D Insurance
MetLife:
Claims 1-800-638-6420
Portability 1-866-492-6983
Conversion 1-877-275-6387
Your basic life insurance and AD&D coverage ends at midnight on your last day of active employment. You may port or convert your life insurance and you may port your AD&D coverage to an individual policy at your own expense. To apply for coverage, contact your local HR department to obtain the appropriate form. You must apply and pay your first premium directly to MetLife within 31 days of your termination.
Optional and Dependent Life Insurance
MetLife:
Claims 1-800-638-6420
Portability 1-866-492-6983
Conversion 1-877-275-6387
Your employee-paid optional and dependent life insurance coverage ends at midnight on the last day of the benefit coverage period in which your active employment ends. You may port or convert this life insurance coverage to an individual policy — at your own expense. To apply for coverage, contact your local HR department to obtain the appropriate forms. You must apply and pay your first premium directly to MetLife within 31 days of your termination.
Long-Term Disability (LTD)
Unum: 1-800-858-6843
Your Long-Term Disability coverage ends at midnight on your last day of active employment. Enterprise does not offer the option to continue
this coverage as an individual policy.
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Enterprise Retirement Savings Plan
Fidelity Investments:
1-800-835-5095
www.401k.com
Your vested balance in the plan may be distributed upon termination. If your vested account balance is $1,000 or less, you are required to withdraw the full amount in a single lump sum or roll it over to another tax qualified retirement plan or an IRA. If your vested account balance is greater than $1,000, you can elect to take a lump sum distribution, roll it over to another tax qualified retirement plan or an IRA, or leave your balance in the Enterprise Retirement Savings Plan.
If you rollover your vested account balance over to an IRA or another tax qualified retirement plan, you will not pay taxes on your distribution.
If your vested account balance is paid to you in a single lump sum, it will be subject to 20 percent mandatory federal income tax withholding and any applicable state and local income tax withholding.
Distributions will be paid no sooner than 60 days after your termination date to ensure proper accounting — no exceptions.
Contact Fidelity Investments at 1-800-835-5095 for additional details on distributions.
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