When Coverage Ends

When you leave Capital One, your health benefits (medical, dental, and vision) end on the last day of the month in which you end employment. Most of your other benefits including life insurance, disability, purchased time off, your Be Well Rewards, and even your flexible spending accounts, end on your last day of employment. For more information about the ending of your benefits, please see the individual sections below.

Continuing Your Health Coverage Under COBRA

You may elect continuation of health care coverage through a COBRA contract. COBRA—the Consolidated Omnibus Budget Reconciliation Act—generally allows you and your covered dependents to pay and continue your insurance under the group policy for 18 months after you cease to be an active associate. If your dependent(s) loses coverage due to your death or divorce, or because they reach the eligible dependent age limit, their coverage may be continued for up to 36 months.

If you choose to enroll in COBRA, the cost will be the full premium (both your and Capital One's portions) plus a 2% administration fee. Therefore, it costs more than what you have been paying. You may find a more cost-effective option elsewhere such as through the federal health insurance marketplace. See the current rates for COBRA. 

You should receive your COBRA paperwork within 5-7 business days from the date your termination is processed. If you have not received your paperwork, please contact Anthem at 1-877-775-9393 or you may access your account online by following these instructions:

1. Go to www.benefitadminsolutions.com/
2. Select “Anthem Blue Cross Blue Shield"
3. Select “Employee & Participant Login"
4. Click “Click here" to register
5. If you don't yet have your COBRA account number, use your SSN

You have 60 days from your notification date or coverage end date to enroll in COBRA.

For questions about COBRA coverage see the Group Health Continuation Under COBRA information in the Summary Plan Description, or contact Anthem, our COBRA Administrator, by calling 1-877-775-9393.

Note: You may have special considerations under COBRA if you're Medicare eligible. If you're receiving Medicare at the time COBRA is elected, you can have coverage under both plans. However, Medicare becomes primary and COBRA is secondary. Therefore:

• If you enroll in COBRA and then become Medicare eligible, you will need to terminate COBRA medical at the end of the month prior to the Medicare eligibility.
• If you are Medicare eligible at the time you terminate, you may elect COBRA if you choose, but Medicare will be primary and COBRA will be secondary. You can access additional information on Medicare at medicare.gov and click on "Supplements and Other Insurance", or by phone at 1-800-MEDICARE (1-800-633-4227).

Retiree Health Care

Capital One offers access to Retiree Health Care support for associates aged 55+, as long as they have 10 years of service after age 45.

Capital One Retirees will have access to a variety of medical plans through the Aptia365 Retiree private exchange. The choices of medical plans will be varied, with different levels of coverage, carriers, networks and/or pricing. Retirees and their dependents who are Medicare-eligible will have the choice of Supplemental, Medicare Advantage and/or Medigap plans. Best of all, Retirees and their eligible dependents will be able to work with an Aptia365 Benefits Counselor who will guide them in making the right choice based on their prescription and medical needs and walk them through the enrollment process.

When enrolling in a medical plan through Aptia365 Retiree, the participants will be responsible for paying the monthly premiums directly to the carriers. Failure to pay timely will result in termination of the coverage, according to the rules of the carrier.

Retirees and/or their eligible dependents may decide to elect COBRA at the time of termination instead of selecting a plan through Aptia365 Retiree. In that situation, the participant may only move to a plan through Aptia365 Retiree when:

• The individual turns 65 and becomes eligible for Medicare, or
• Their COBRA continuation coverage period ends, or
• If applicable, their COBRA subsidy ends, or
• During the annual enrollment period (Oct. 15 – Dec. 1 for Medicare-eligible; Nov. 1 – Dec. 15 for non-Medicare individuals)

If a Retiree or their dependent does not enroll in COBRA or a plan through Aptia365 Retiree at time their coverage as an active associate ends, they cannot elect to participate at a later date. Additionally, new dependents (such as new spouses or spouses previously not enrolled in a Capital One medical plan) may not enroll in an Aptia365 Retiree plan.

How can I see my options?

If you are interested in looking at plans and rates prior to 90 days out from your retirement, we recommend checking out healthcare.gov to see the different options available. This site will give you an idea of what Aptia365 has to offer.

You may contact Aptia up to 90 days prior to your retirement date to set up an appointment with an Aptia365 Benefits Counselor. Please know they will not have your information prior to you calling, so they will need to collect information from you. To schedule an appointment, call 1-855-207-1979, Monday through Friday from 8:00 a.m. to 5:30 p.m. Eastern Time; deaf or hard of hearing individuals should dial 711 for Telecommunications Relay Service. Additionally, you may schedule an appointment by going to http://retiree.aptia365.com/capitalone.

Use the checklists provided by Aptia to prepare for your Consultation appointment: For Medicare-Eligible Retirees age 65 and older, and for Pre-65 Retirees.

What to Expect Upon Retirement

Within a few weeks of your retirement, you will receive separate information regarding COBRA and Aptia365 Retiree. We strongly suggest that you work with an Aptia365 Benefits Counselor to help you decide which coverage options will be the best for you. In many situations, it may benefit you to have some coverage or dependents covered through COBRA while having other coverage through Aptia365 Retiree.