WHAT IF I...?

Change my status from Full-time to Part-time (20-37.4 hours per week)

Full-time benefits are terminated as of the end of the month or on the actual date of your change to part-time (scheduled to work 20 - 37.4 hours per week), depending on the benefit.

Your benefit coverage will change or end as follows:

• Medical and dental rates will change effective the first of the month following the change in status. Please refer to the benefit cost sheet for details on premiums. You can change or delete coverage at this time.
• Vision rates will remain the same but you will now have the option to waive the coverage within 31 days of the change in status date.
• Voluntary Life ($25,000 or $50,000 available) and Dependent Life can be reduced or deleted effective the first of the month following the status change.
• Basic Life Insurance and/or AD&D coverage will be effective first of the month following the status change. You can elect a flat amount of $25,000 or waive the coverages.
• Health Care and/or Dependent Care Flexible Spending Accounts can be changed or deleted.
• Review the Retirement Savings Plan information to determine ongoing eligibility in the plans.
• Short Term and Long Term Disability coverage ends on the date of change in status.
• With the change in status you may need to complete a time sheet and have it approved by your supervisor - please speak to your supervisor regarding this process.
• For information regarding other Compensation and Benefits eligibility please access the myValassis portal / Administration tab / 2008 Human Resources section / 2008 US Policies for more details.

Change my status from Full-time to Part-time (less than 20 hours per week)

Full-time benefits are terminated as of the end of the month or on the actual date of your change to part-time (scheduled to work less than 20 hours per week), depending on the benefit.

Your benefit coverage will end as follows:

• Medical, dental and vision benefits coverage ends on the last day of the month of your change in status. Please refer to the COBRA information for details and premiums.
• Basic, Voluntary Life and AD&D benefits coverage end on the date of change in status.
• Health Care and/or Dependent Care Flexible Spending Accounts end on the date of your change in status.
• Review the Retirement Savings Plan information to determine ongoing eligibility in the plans.
• Short Term and Long Term Disability coverage ends on the date of change in status.
• With the change in status you may need to complete a time sheet and have it approved by your supervisor - please speak to your supervisor regarding this process.
• For information regarding other Compensation and Benefits eligibility please access the myValassis portal / Administration tab / 2008 Human Resources section / 2008 US Policies for more details.

Consider portability or converting your life insurance coverage. You can elect the portability option which means you can take this important coverage with you at reasonable group rates when you leave Valassis or you can convert your Basic and Voluntary Life Insurance to an individual policy. Please click here for more information regarding these options.

Consider electing COBRA coverage. You will receive notification of your right to continue your medical (includes prescription coverage), vision, dental and EAP benefits and the Health Care Flexible Spending Account through COBRA. Notification will arrive about mid-month following your benefits termination date. The cost for COBRA continuation is 102% of the full premium rate.