We wish you well in your future endeavors. Here’s what you need to know to transition and/or terminate your Intuit benefits.
You have 60 days from your COBRA notification date or coverage end date to enroll in COBRA. You have 31 days to elect and pay for life insurance continuation.
Connect with an Accolade Health Assistant® to learn how this change may affect your benefits.
Medical, Dental, Vision
- You have 60 days from when your coverage with Intuit ends to enroll in COBRA. The enrollment choices that you made for the current fiscal year will determine what type of COBRA coverage you (and your dependents) will be eligible for. You pay for COBRA coverage on a monthly basis. Find out how much COBRA coverage costs.
- You may want to consider buying coverage through the health insurance marketplace. You could qualify for lower costs on your monthly premiums and lower out-of-pocket costs. You can learn more about many of these options at www.healthcare.gov.
- Your medical, dental and vision insurance coverage will end at 11:59 p.m. on your last day of work. Before your last day, you’ll receive a Benefit Exit Explanation, which contains important information about your right to continue your health insurance through COBRA and how to enroll.
- If you are enrolled in the Cigna Choice Fund with HSA medical plan, you can take your HSA account with you. You may roll it into another account if you're covered by a qualified high-deductible health plan, keep your account with HealthEquity or close your account. Contact HealthEquity to learn more about these options.
Flexible Spending Accounts
- You may be eligible to continue your Health Care Flexible Spending Account (FSA) benefits under COBRA through the end of the fiscal year. You can’t incur Health Care FSA costs after your last day of employment unless you enroll in COBRA.
- Your Dependent Care FSA will stop accruing money on your last day of employment. You’ll be able to use the accrued money in your account until the end of the fiscal year (July 31). After that date, you’ll lose whatever remains in the account. You can submit claims through October 31 for expenses incurred through the previous July 31.
Life and Accident Insurance
You have 31 days from your last day of employment to convert your life insurance coverage to an individual policy or port (take with you) up to $300,000 of your current term coverage. The conversion form will be in your COBRA packet.
Savings and Retirement
- If you have an automatic contribution on file or made an active election, that deferral amount will apply to eligible wages paid to you within 60 days after your separation from employment.
- The Intuit matching contributions will generally vest after two years of service from your date of hire.
- If you leave Intuit before two years of employment, you will not have access to the unvested portion of your Intuit matching contributions.
- You're always 100% vested in your own contributions.
- If you leave Intuit, you can do the following with your vested money:
- Leave it in the Intuit 401(k) plan if your balance is at least $5,000.
- Roll it over to another employer's 401(k) plan or other qualified plan (e.g., Traditional or Roth IRA).
- Take a distribution (includes tax consequences and potential penalties).
Note: If you request a distribution (e.g., cash out or rollover) of your account, there will be a 21-day hold (from date of separation) before Empower can distribute your 401(k) funds.
Visit the Empower website to learn more.
If you participate in the Employee Stock Purchase Plan (ESPP), any accumulated payroll deductions will be refunded to you.
You have 90 days from your last day of employment to convert your legal insurance coverage to an individual policy. The conversion form is included in your exit paperwork.
You May Also Want To
- Submit your flexible spending account (FSA) receipts to get reimbursed for any out-of-pocket medical, dental or vision expenses that haven’t been reimbursed. You can submit your claims:
- Through the mobile app;
- Via fax at 1-888-211-9900; or
- By mailing them to: Your Spending Account, P.O. Box 785040, Orlando, FL 32878-5040.
- You should try to submit your receipts by July 31, but you have until October 31 to submit receipts for expenses incurred in the previous fiscal year (August 1–July 31).
- Get a new pair of glasses/contacts before your last day of employment. The VSP plan is on a rolling 12-month calendar, which means that you and your enrolled dependents are eligible to use this benefit once every 12 months.
- Use Intuit’s Well Minds programs to help you handle life’s challenges, build resilience and ease your stress.
- Submit your reimbursement request and receipts for the Well-being for Life Program by uploading them to Darwin, Your Benefits Administrator at least 10 business days before your termination date. Once you log in via single sign on, select Reimbursements. Your request must be approved before your termination date. Any pending requests are still subject to review and have the potential to be rejected.
- Use Intuit's discounts. If you register for these programs before you leave the company, you can continue to use the benefit for as long as you like after your termination date.
- Make donations to the Donation Matching program—and enter them into EasyMatch—before your last day of employment. The donation match will be processed on the next quarterly processing date.
- Use the on-site gym through your last day of employment, as long as you still have your badge for access.
- Visit Workday to review your accrued and unused vacation time. You’ll be paid for this time in your final paycheck. Unused sick leave or holidays are not paid at termination.
- Apply for unemployment benefits, if applicable. Find out how to apply by consulting with your local unemployment office.