My ServierBenefits
When your employment at Servier ends, you will have important decisions to make about some of your benefits. You are encouraged to review the following information to help you make informed choices for you and your family.
Your current coverage will end on the last day of the month of your Servier termination date. Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), you have the option to continue your Servier-sponsored medical, dental and vision coverage for up to 18 months.
Benefits continued under COBRA are administered by Optum Financial. Upon your employment termination with Servier, Optum will send you an enrollment packet for you to complete to continue your Servier benefits.
The cost of continuing benefits under COBRA are 102% of the full monthly premium – this includes the portion of the premium paid by you and Servier plus administration costs.
Important! Enrollment in COBRA coverage is not automatic – you must elect continuation of coverage within 60 days of your active coverage end date.
Enrollment in COBRA continuation is not required. Other resources are available through Healthcare.gov.
For more information regarding the conversion of your group life coverage, contact Unum at 1-800-421-0344 or refer to the Unum Conversion Form.
Flexible Spending Accounts (FSAs) contributions continue through the end of your last regular pay period. All claims must be for services received before your last day of employment at Servier and must be submitted to WageWorks (EZ receipts) within 90 days of your termination date. Any unclaimed amounts remaining in your FSA after 90 days will be forfeited.
You may continue to participate in the Healthcare Flexible Spending Account under COBRA if you have elected to contribute more money, including any carryover amounts, than you have taken out in claims. For example, if you elected to contribute an annual amount of $500 and, at the time you terminate employment you contributed $300 but only claimed $150, you may elect to continue coverage under the Healthcare Flexible Spending Account. If you elect to continue coverage, then you are able to continue to receive reimbursements up to the $500 for plan year services following your termination. However, you must continue to make contributions to the account on an after-tax basis to satisfy the annual amount elected.
Health Savings Account (HSA) contributions will continue through the end of your last regular pay period. The HSA funds will remain in your account, even after you leave the company and you can continue to submit claims for any out-of-pocket services. After your termination, your HealthEquity account will incur a $2.75 monthly administration fee. You have the option to transfer your HSA account to another provider or leave it with HealthEquity.
If you are enrolled in the legal plan, provided by LegalEASE, coverage will end on your Servier termination date. You have the option of portability to continue your current coverage at the same premium rate. Once they receive the change of your employee status, LegalEASE will send a letter to your home address with instructions on how to request portability and set up your direct payment. You have 60 days from your date of termination to request portability of your legal coverage.
For more information, contact LegalEASE at 1-800-248-9000.
Servier 401(k) plan contributions will continue through the end of your last regular pay period. After your termination is received by Fidelity, you will have the option to leave your funds in the Servier 401(k) plan, rollover your funds to another 401(k) plan, or request a cash distribution. The following forms of distribution will be available:
If your account balance is less than $1,000, it will be distributed to you as a lump-sum payment. If your account balance is between $1,000 and $7,000, it will be distributed to an Individual Retirement Account or Annuity (“IRA”) for your benefit.
If you have an outstanding loan balance at the time of termination, you may continue to make loan payments to Fidelity in accordance with the terms of your repayment agreement.
Rules around 401(k) distributions can be complex. We recommend you reach out to Fidelity or a CAPTRUST advisor to discuss the best option for you..
Paid time off under Servier’s Flexible Time Off Policy, is not accrued time or considered vested wages. As such, employees will not be paid for unused paid time off at the end of employment.. Please see the Servier Flex PTO Policy for more information.
Terminated employees will continue to have access to the Employee Assistance Program (EAP) provided by KGA for 30 days following termination. To learn more about these services, please refer to the EAP page.
For any questions, or to request more information contact the HR Service Desk.
