MMC Benefits Handbook
Changing Coverage
TRIP and Leaving the Company
What happens to my pass if I leave the Company?
After your employment ends, HealthEquity will automatically cancel your elections for future months. If you missed the deadline for canceling your pass—and you terminate employment before the start of the following month—you can either return the pass for that month to the transit agency for a refund of only the after-tax paid or use the pass. Not all transit authorities accept returned passes. Contact HealthEquity to find out if the transit agency accepts returned passes. Note, however, that you are responsible for the cost of the pass with respect to a month in which you are not an employee and you may be liable for taxes on the value of the pass. You may want to consult a tax adviser for details. You cannot seek reimbursement from either HealthEquity or Marsh McLennan for any expenses incurred after you leave the Company.
You may also choose to return an unused pass to the transit authorities that accept returned passes. Please note, however, that HealthEquity will only reimburse you for any after-tax portion of your election. In this situation, you will still be responsible for the before-tax portion.
If the deadline for changing or canceling your election has not yet passed by the time you realize that you will be going on a leave from the Company, you should change your election as necessary to avoid having an excess deduction and possibly a forfeiture.
What happens when I leave the Company after having made an election to receive reimbursement benefits?
You will not be entitled to reimbursement for any expenses incurred after you leave the Company. Any unused amounts set aside in your account for which you do not properly request reimbursement for qualified expenses will be forfeited. As a result, if the deadline for changing or canceling your election has not yet passed by the time you realize that you will be leaving the Company, you should change your election as necessary to avoid having an excess deduction and possibly a forfeiture.
TRIP and Leave of Absence
What happens to my TRIP election if I go on a leave of absence?
While you are on a leave of absence, you are not eligible to participate in TRIP. HealthEquity will automatically clear your record once they are notified by the Company that you are on a leave of absence. Once you return from your leave, you will have to contact HealthEquity to reelect your TRIP election.
What happens if I receive a pre-elected pass while I am on a leave of absence?
If you missed the deadline for canceling your pass—and you go on a leave of absence before the start of the following month—you can either return the pass for that month to the transit agency for a refund or use the pass. Not all transit authorities accept returned passes. Contact HealthEquity to find out if the transit agency accepts returned passes. Note, however, that you are responsible for the cost of the pass with respect to a month in which you are on leave and you may be liable for taxes on the value of the pass. You may want to consult a tax adviser for details.
You may also choose to return an unused pass to the transit authorities that accept returned passes. Please note, however, that HealthEquity will only reimburse you for any after-tax portion of your election.
If the deadline for changing or canceling your election has not yet passed by the time you realize that you will be going on a leave from the Company, you should change your election as necessary to avoid having an excess deduction and possibly a forfeiture.