COBRA & Conversion

If I Leave Employment, 

What Happens to My Benefits?

COBRA

            Applies to Medical, Dental, and Vision

            Allows you to continue any or all of these three insurance products at the same group rate (2% admin fee added to medical by TRS) on a month by month basis, up to 18 months in most cases (36 months in a few cases)


Conversion

            Applies to Group Term Life

            Allows you to convert some or all of your existing benefit with no health questions.

            Coverage goes from group term life to individual permanent life.

            Rates vary depending on your age at conversion, but rates are always more expensive.

Portability

            Applies to Group Term Life

            Allows you to continue existing coverage at same or similar group rates.

            No health questions.

            Only lasts a limited amount of time but allows you to pay less during that time.

            You have the option to convert when portability has reached its time limit.

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