Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), eligible individuals can temporarily continue their group health benefits after experiencing certain life events, such as job loss, reduced hours, or divorce.
NXP’s COBRA Annual Enrollment begins on 10/29/2024.
Annual Enrollment is your opportunity to make changes to your employee benefits such as removing coverage for yourself and/or your dependents. Any changes made during the annual enrollment period will be effective 01/01/2025.
NXP has chosen a new benefits and COBRA administrator effective 01/01/2025. Businessolver, Inc is our new benefits administrator and will be handling the upcoming annual enrollment period. Although you will enroll for your benefits for the next plan year with Businessolver, Inc, you should continue making payments for your premiums through December 31, 2024 with UHC through https://uhcservices.com/ .
You will have until November 15, 2024 to make any changes to your 2025 COBRA coverage. To access the enrollment, login to mynxpbenefits.com on or after October 29. You need to register as a first time user. Your company key is NXP
Questions? Annual Enrollment support will be available beginning October 29. Please contact the NXP Benefits Service Center at (888) 532-3971 or login to mynxpbenefits.com for support beginning on that date.
The Consolidated Omnibus Budget Reconciliation Act (COBRA) gives workers and their families who lose their health benefits the right to choose to continue group health benefits provided by their group health plan for limited periods of time under certain circumstances such as voluntary or involuntary job loss, reduction in the hours worked, transition between jobs, death, divorce, and other life events.
Effective January 1, 2025, the NXP Benefits Service Center will administer COBRA. For questions regarding COBRA invoices and coverages in 2025, please call (888)-532-3971 or visit mynxpbenefits.com.
For 2024 COBRA coverages and billing questions, please contact United HealthCare at (866) 747-0048
or visit https://uhcservices.com/ .
Although Businessolver, Inc will be handling the upcoming annual enrollment period, you should continue making payments for your premiums following the existing process with the current COBRA administrator until 01/01/2025.
You should also report any qualifying life events or other events that may occur such as qualifying for Social Security benefits or enrollment in Medicare or another group health plan to your current COBRA administrator until that date.
You will receive instructions for making payments and reviewing your account with Businessolver, Inc after annual enrollment has ended.
For 2024 COBRA support, please contact the NXP 2024 COBRA vendor, United Healthcare at (866) 747-0048 or online at www.uhcservices.com
A COBRA enrollment notice will be mailed to your primary home address in Workday about 14 days after your active employee coverage has ended.
For example, if your last day of employment is January 3, then your health coverage continues through January 31.
You can expect your COBRA enrollment notice no later than February 14.
The COBRA enrollment notice mailed to your home will show your COBRA coverage options and their prices. COBRA coverage will be offered for medical (prescription drug and mental health), dental, vision, the Health Care/Limited Use Flexible Spending Account, if you were enrolled in the program as of your last day of employment.
By paying for COBRA coverage, you will continue coverage in the health care plan you were enrolled in prior to leaving NXP. In other words, you won’t be offered COBRA coverage for vision if you weren’t enrolled in vision as of your last day of employment.
COBRA coverage is “retroactive.” This means that, when you elect COBRA and pay the premium, your COBRA coverage is effective the day after your active coverage ends. This means there will be no break in coverage, even if you wait until day 59 to make your COBRA election. Of course, because the coverage is retroactive, the payment will also be retroactive.
You will continue to use your existing medical/health plan card. New cards will not be issued.
You must make the first payment in order to activate COBRA coverage. The COBRA benefits coverage will be activated within 5-10 business days of receipt of payment, but will be retroactive so there are no gaps in coverage.
Once you receive a bill in the mail, make a payment by the due date. Your first payment (due within 45 days of your election) must include your COBRA contribution for the entire period from the date active employee coverage ended through the end of the month of the payment. Subsequent payments are due on the first of the month, whether or not you receive a bill.
If the monthly contribution is not received within 30 days of the due date, coverage is permanently canceled as of the last day of the month in which you paid a contribution and cannot be reinstated.
If you are leaving the company in December, the COBRA notice will be sent by Businessolver since your coverage will go into effect January 1, 2025.
COBRA coverage does not count towards creditable prior coverage for Medicare Part B, which means that when your COBRA ends and you decide to sign up for Medicare Part B after the date you originally could have joined, you will face a 10% per year for life penalty on the cost of Part B.
If you have COBRA when you become Medicare-eligible, your COBRA coverage usually ends on the date you get Medicare. You should enroll in Part B immediately because you are not entitled to a Special Enrollment Period (SEP) when COBRA ends. Your spouse and dependents may keep COBRA (if they are not also Medicare-eligible), regardless of whether you enroll in Medicare during that time. If your spouse has COBRA when they become Medicare-eligible, their COBRA coverage will end the last day of the month prior to their 65th birthday.
If you are 65 or older when you leave NXP, you will need to enroll in Medicare because it will be your primary insurance. You can choose to waive COBRA for yourself and only enroll your dependents (spouse or children) in COBRA.
If you have COBRA when you become Medicare-eligible, your COBRA coverage usually ends on the date you become eligible for Medicare. You should enroll in Part B immediately because you are not entitled to a Special Enrollment Period (SEP) when COBRA ends. Your spouse and dependents may keep COBRA, regardless of whether you enroll in Medicare during that time.
Here are some additional links that will provide additional information about Medicare and COBRA:
If you leave NXP, your active employee coverage will go through the end of the month during which you resign. Effective the 1st day of the following month, you will need to enroll in coverage through Medicare, COBRA or elsewhere. For example, if your last day at NXP is September 5th, your coverage will continue through September 30th.
In this example, you and your enrolled dependents will be eligible to enroll in COBRA effective October 1st. If you are over the age of 65, you can choose to waive COBRA and enroll in Medicare. Your dependents (spouse or children) will still be eligible to enroll in COBRA.
For questions regarding COBRA invoices and coverages in 2025, please call (888) 532-3971 or visit mynxpbenefits.com.
For 2024 COBRA coverages and billing questions, please contact United HealthCare at (866) 747-0048
or visit https://uhcservices.com/ .