Employee Matters

This column is prepared by staff from the Office of Human Resources. E-mail questions to Payroll and Benefits Services or call 262-5650. For more information, visit Payroll and Benefits Services.

I’m terminating employment with UW–Madison. Can I maintain any of my benefits?

Yes. Some plans allow you to continue coverage at the same group rates, while others only allow you to convert coverage to individual policies.

When you terminate employment, the Office of Human Resources will send applicable continuation/conversion information to your home address. You can also contact a benefit specialist at benefits@ohr.wisc.edu to discuss details of the plans you carry.

If I don’t continue or convert my benefit plans, when does my coverage end?

Each plan has a different date through which premiums are paid — this determines when your coverage will end. For example, if you terminate employment in May, your health insurance coverage will be paid through July 31. But your life insurance coverage may only be paid through June 30. Contact our office for assistance.

How much does it cost to continue each plan?

It depends upon what insurance you carry. If you continue your health insurance coverage, you will be responsible to pay the full monthly premium (including the portion that was previously paid by the university). Other plans allow you to continue coverage at the same premium rate you paid as an employee.

If your employment ends involuntarily and you apply for COBRA continuation of certain insurances, then you may be eligible for a premium reduction. The Office of Human Resources will mail you detailed instructions and forms during the month your health insurance coverage is scheduled to end.

Finally, some insurance plans allow you only to “convert” coverage. The premium cost would increase from what you paid as an active employee. Conversion rates differ by plan and must be obtained directly from the benefit plan administrator.

How do I learn about benefits available to me if I retire?

If you are at least one year from your minimum retirement age, you can meet with a benefits specialist for individual retirement counseling. If you are within 12 months of retiring, contact the Department of Employee Trust Funds (ETF) at 877–533–5020, to request a retirement application/packet. Once you receive your packet, schedule an appointment with our office to complete your retirement application and obtain information about benefit continuation.

See the OHR Web site for further details.

How do I update my address and bank information if I am moving at the time of termination?

Complete and submit an Employee Information Form (UW1035) to your payroll office if you will change your address. This will help ensure that you receive year-end tax statements from the university. Or request a home address change through the My UW portal (Work Record tab).

If you participate in direct deposit and you are not closing your account before your last payroll, no action is required. If you are closing your account before your last payroll, complete a Direct Deposit Authorization Form (UW1032) to direct your check to the proper account. If you do not participate in direct deposit, you must provide our office with a self-addressed stamped envelope so your final check can be mailed to you.

Visit benefits.wisc.edu or e-mail Payroll and Benefits Services for more.