Separation: Key Information for transitioning employees. Dr. Reddy s Laboratories, Inc.

Transcription

1 Separation: Key Information for transitioning employees Dr. Reddy s Laboratories, Inc.

2 Benefits Continuation You will continue to be eligible for coverage under the Medical, Vision, and/or Dental plans until the end of the month of your termination date. Your semi-monthly contribution will continue to be deducted from your final bi-weekly paycheck. Please refer to the 2016 Open Enrollment Guides for current rates.

3 FSA Accounts Employees may submit paper FSA claims for a maximum of 30 days after termination for any claims incurred from January 1, 2016 to your termination date. Any unused funds remaining in the account after this time will be forfeited as required by IRS regulations. Copies of Meritain s Request form are included in your separation binder.

4 HSA Accounts At Termination, the debit card associated with the HSA will also be terminated. The employee can call benefit wallet directly to request a new card and it will be sent to them, so they can continue using their funds. Terminated employees can call to request a new card. Employees can also continue to access their account online and do transactions from their online account.

5 COBRA You will be eligible for COBRA benefits. The coverage will commence on the 1 st day of the month after your coverage ends. If your benefits continuation ends prior to the 2 nd payroll of the month, you will have to: Provide a check before your termination date or mail a check prior to the 15 th of that month to Suma Koodallur/ Maria Manfre to cover the semi-monthly contribution for the end of that month. If your benefits continuation ends after the 2 nd payroll of the month, your semi-monthly contribution will continue to be deducted from your paycheck. The Company s COBRA administrator, Conexis, will send you a notice in the mail.

6 Basic Life Insurance Basic Life and AD&D coverage ends on your date of termination. You have the option to convert your Basic Life Insurance Coverage to a whole life individual policy within 31 days following your termination date. Conversion rates and forms will be mailed to your home address.

7 Voluntary Life Insurance Voluntary Life and AD&D coverage also ends on your date of termination. You can either convert your coverage to a whole life individual policy or port your coverage as a term life policy within 31 days of your termination date. To port your coverage, you must meet underwriting requirements (Short Form Health Statement Questionnaire). Portability rates will be sent by mail. These rates are based on your age when you port the coverage. You also have the option of retaining coverage for your spouse and dependent children if they were covered prior to your termination.

8 MetLife - Individual Longterm Care If you are currently enrolled in MetLife s Individual Long-term Care policy you will be contacted directly by the carrier. Rates will also continue to be the same as when you were an active Dr. Reddy s employee.

9 MetLife -Individual Disability Income If you are currently enrolled in MetLife s Individual Disability Income policy, you will be contacted directly by the carrier. Rates will continue to the same as when you were an active Dr. Reddy s employee.

10 Expense Reporting All expenses should be submitted to the Concur Expense Management System prior to your termination date. If you still have any pending expenses, please ensure that you submit these as soon as possible. Any prepaid expenses (i.e., conferences, airfare, hotel deposits, etc.) must be cancelled prior to your termination date. All refunds are payable and should be directed to Dr. Reddy s. Failure to do so may result in an unnecessary delay of your reimbursement.

11 Savings & Investment Plan Your benefit will be based on the value of your account. Our 401(k) Savings Plan is with Fidelity.

12 Employee Assistance Program (EAP) Dr. Reddy s EAP, Ceridian Lifeworks, will be available for up to 30 days after termination. Ceridian Lifeworks provides a wide-range of resources pertaining to this transition and counseling services. Please contact Ceridian Lifeworks at (888) You can schedule up to 3 free one-on-one sessions with a trained certified counselor. These sessions can be scheduled beyond your termination month.

13 Required Actions Please ensure that all proprietary documents and company property listed below, is returned to IT or your manager. Laptops, power adapters, USB flash drives, printers and docking stations (to MUS Reddy) ID Badges New Hire Employee Reference Guide Thank you for your cooperation.

14 Important Dr. Reddy s Contacts Expense Reporting Manuela Bandeira Associate Director, ATR & Medicaid Spend (609) or mbandeira@drreddys.com Payroll & 401(K) Maria Manfre Assistant Manager, Payroll (609) or mmanfre@drreddys.com Separation Process/Benefits Suma Koodallur Benefits Specialist (609) or skoodallur@drreddys.com Severance Agreements- Stephen Prentiss Vice President, Human Resources (609) or sprentiss@drreddys.com

15 Important Benefits Contact Information CIGNA HealthCare and Vision To access your personal account: or at: Delta Dental or phone at: Cigna - Life Life & AD&D Conversion: (Basic or Voluntary coverage) Life & AD&D Portability: (Voluntary coverage only) Policy # FLX MetLife Individual Disability Income: / MetLife Long-Term Care: (Tracy Russo) Conexis (COBRA) at: Fidelity (401(k)): Benefit Center Toll Free Number Affinity Credit Union at: Ceridian LifeWorks at: Winston Benefits Contact Information: DRL Benefits Portal: DRL Benefits Hotline Number: , 8:30am to 8:00pm EST Monday Friday