Terminations & Retirement

Health Insurance

Terminating Associates & COBRA

Coverage for team member, currently enrolled in Old National’s medical, dental and/or vision plans, will cease at the end of the month in which employment terminates. Team members, their spouse and eligible dependents may be entitled to continue these coverages under the Consolidated Omnibus Budget Reconciliation Act of 1985, commonly known as “COBRA.” For additional information regarding rates, eligibility and continuation of coverage through COBRA, refer to the COBRA section of Old National’s Associate Handbook.

Flexible Spending Plans

If you contribute to a Health Care reimbursement account, you can submit claims towards the remaining balances until the end of the current plan year. However, eligible claims will only be reimbursed for services rendered through the end of the month in which your employment terminates.

If you contribute to a Dependent Care reimbursement account, you may submit claims towards the remaining balances until the end of the current plan year for eligible expenses incurred during the plan year. However, eligible claims will only be reimbursed up to the balance in your account at the time you cease to be a participant.

Terminating team members, who have a balance in their Health Care account at the time of termination, may be eligible to continue their contributions to the plan under COBRA. The Dependent Care Plan does not qualify as a benefit under COBRA and cannot be continued beyond termination.

COBRA Contact

To verify your FSA account balance and/or inquire about COBRA eligibility, contact Discovery/Wex, Old National’s Flex Plan Administrator, at (866) 451-3399.

Life & Disability Insurance

Life and AD&D Insurance

Basic, Supplemental and Dependent Life insurance coverage will cease at the end of the month in which employment terminates. Full-time and part-time team members, who receive a life insurance benefit paid by Old National, may convert their insurance coverage to an individual policy. Supplemental and Dependent Life insurance coverage may also be converted to an individual policy. Participants have 31 days, from the date their coverage ceases, to convert coverage(s) to an individual policy.

Voluntary Accident AD&D

Coverage for full-time and part-time team members enrolled in Voluntary Accident will cease at the end of the month in which employment terminates. Voluntary Life insurance coverage can be converted to an individual policy.

Long-Term Disability (LTD)

LTD coverage ceases on your last day worked. This plan does not offer a conversion privilege.

Critical Illness, Hospital Indemnity, Legal Protection and Supplemental Accident Insurance

Coverage for team members enrolled in the Critical Illness, Hospital Indemnity, Voluntary Accident and Legal Protection will cease at the end of the month in which employment terminates. Team members may port, or elect to continue, the coverage. Eligible participants will be contacted by an UNUM representative to discuss portability options for all the coverages except Legal Protection.

The legal coverage has a temporary portability of 12 months from the date of termination. Team members will need to call the MetLife customer support center after termination to have portability set up. If portability is elected, the full 12 months premium will be required to be paid for coverage to continue.