If we don’t want to continue the Cobra coverage, do we just do nothing and it lapses on its own or is there some formal process we have to go through? Anyone reading who has been through this already please advise. The person on the phone when I called did not inspire confidence with her answer. Thanks
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You ABSOLUTELY want to call Verizon Net Benefits and ask them to cancel whatever insurance levels you do not want to keep. Health, eye, dental, disability, life, auto, etc.
I was part of the 11/25 RIF and qualified to retire so am able to keep certain insurances and pay “$X” amount with LESS coverage levels than I had. I’ve cancelled all, but a life insurance plan for a child as the price is good.
IF you have a credit/debit card on file and already paying for any non-Verizon programs YOU will be automatically billed to that card if you do proactively CANCEL COBRA. And, they do not issue credits if you did not cancel before your first day of non-Verizon paid benefits.
Also, make sure to ask them to send you a letter that all insurance is no longer in effect so you can signup elsewhere without any penalty. If you’re going on a spouse’s plan, you’ll need this. They mail this in 7-10 days once cancelled. You can call back after 48 hours and request it be uploaded into your portal, too.
Download and SAVE a copy.
Call NetBenefits at 1 (855) 489-2367.
Yes! I was also confused. Called vz benefits and they were able to push the cancellation through. They also mentioned that after 3 month of the end of your benefits, it will auto cancel and be backdated to your end of severance date.
@g7 Yes they will send multiple bills but your service is also cancelled until you pay. No one is forcing you to pay to continue and no one is forcing you to call and cancel a service that cancels as soon as term is up. Just because you get billed for a service no longer active doesn't mean you have to call someone to cancel the service. They bill up front.
You absolutely do call and cancel. I received a very hefty bill when my insurance lapsed and had to call and cancel before they billed me another month
Ignore it, yeah they will send you a bill but it clearly will say on the bill to continue coverage pay it. if you don't pay it then coverage stops on the designated date. This isn't complex stuff.
@OP you have call them and cancel it or you will get billed.
Call an cancel to avoid headaches
Yes. Do nothing and cobra coverage will lapse.
If you want, you can call the benefit center to cancel, but it isn’t necessary