Medical Opt Out Stipend

If you have coverage under another medical plan (for example, through your spouse's or partner's employer), you may elect to waive coverage through Hobart and William Smith Colleges. If you choose to waive medical coverage, you will have no medical coverage for yourself or your family through HWS. If you are currently enrolled in the Colleges' medical plan and you wish to opt out of the medical plan for 2018 then you will need to actively waive medical benefits via the benefit web portal.

If you are not currently enrolled in the Colleges' medical plan and you wish continue with the lack of medical coverage then you don't need to waive coverage or submit a medical opt out form.

HWS provides a Medical Opt-Out stipend for those who waive medical coverage. The 2018 medical opt out stipend is $1000 and will be paid out on January 26, 2018. The stipend will be paid out during the normal pay cycle and will be subject to regular tax withholdings.

Remember, if you voluntarily waive medical coverage, you waive your rights to elect medical coverage under COBRA (Consolidated Omnibus Budget Reconciliation Act) if you terminate your employment.

If you wish to have your stipend deposited into your TIAA retirement account please complete and return the Medical Opt Out form to HR by November 13th.

 

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Geneva, NY 14456
(315) 781-3000

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