Summary Plan Description

Termination of Coverage

Coverage for you and your dependents terminates on the earliest of the following dates unless you or your dependents qualify for, and properly apply for, one of the continuation coverage options.

  • At the end of the month in which you no longer satisfy the eligibility requirements of the plan.
  • At the end of the month in which your dependent(s) no longer satisfy the eligibility requirements of the plan.
  • At the end of the month for which the last contribution was made for continuation coverage.
  • At the end of the month prior to the month your eligibility is suspended.
  • In the event of your death, eligibility for dependents continues based on your dollar bank eligibility at the time of death. COBRA Coverage may also be available when dollar bank eligibility ends.
  • The date the plan is terminated by the Board of Trustees.

Coverage for you and/or your dependents terminates on the earliest of the dates described above. However, coverage can be continued beyond the applicable termination date if you and/or your dependents qualify for, and properly apply for, one of the continuation coverage options.