What you need to know
Changes at work can mean changes to your benefits eligibility. Make sure you take the time to make the best decisions for yourself and your family. To give you the support you need, Honeywell has pulled together information about how your benefits might be affected.
Joined Honeywell recently?
Relocating for work
Moving is exciting, and Honeywell wants to make it as easy as possible for you. In circumstances where Honeywell is reimbursing you for the relocation, you will receive information from HR.
Once settled in your new location, it’s important to find new health care providers. Visit Castlight to find providers in your network. The tool also shows quality ratings, so you can ensure that you and your family members are getting the best possible care.
In addition, you may be eligible for different benefits. If you move and your current benefits plans aren’t available in your new area, you have 31 days from the date your home address changes to update applicable benefit selections.
To make changes to your benefits, visit the Benefit Center.
Going out on disability
Honeywell has a strong commitment to the health, safety and welfare of employees. If you are disabled and cannot work due to a non-work-related illness or injury, Honeywell provides assistance through short-term disability (STD) and long-term disability (LTD). You should apply for STD when you are, or expect to be, absent for more than seven (7) consecutive calendar days.
Getting ready to retire
It’s time for a new adventure, Futureshaper, and we thank you for all you have done for Honeywell. While we are sad to see you go, we want to make this transition into retirement as easy as possible for you.
We’ve developed a guide to provide a general overview of the U.S. retirement process. Individual circumstances may need to be discussed with an HR colleague. If you have any questions about the retirement process, please email HR Help.
It’s important to update your information, including a personal email address, in HR Direct to ensure that you will continue to receive communication, such as your W-2, from us after you leave. Pay special attention to the invitation to sign up for the Alumni Hub. This site provides access to critical documents such as paystubs and past benefits information.
Once a Futureshaper, always a Futureshaper. We wish you well in your future endeavors. Here’s what you need to know to transition and/or terminate your Honeywell benefits.
Medical, dental, vision
- You have 60 days from when your coverage with Honeywell ends to enroll in COBRA. The enrollment choices that you made for the current year will determine what type of COBRA coverage you (and your dependents) will be eligible for. You pay for COBRA coverage monthly.
- You may want to consider buying coverage through the Health Insurance Marketplace. You could qualify for lower costs on your monthly premiums and lower out-of-pocket costs. You can learn more about many of these options on the Marketplace website.
- Your medical, dental and vision insurance coverage will end at 11:59 p.m. on the last day of the month in which you terminate. After leaving, you’ll receive important information in the Benefit Center about your right to continue your health insurance through COBRA and about how to enroll.
- If you have a health savings account (HSA), you can take it with you. You may roll it into another account if you're covered by a qualified high-deductible health plan, keep your account with Bank of America or close your account. Contact Bank of America to learn more about these options.
Flexible spending accounts
- You may be eligible to continue your limited purpose flexible spending account (LPFSA) benefits under COBRA through the end of the fiscal year. You can’t incur LPFSA expenses after your last day of employment unless you elect to extend this coverage through COBRA. Any funds remaining after March 31 of the subsequent plan year will be forfeited.
- Deductions for your dependent care FSA will end with your last paycheck. You can only be reimbursed for services received before you leave Honeywell. However, you can request reimbursement for those expenses through the end of the plan year in which you leave. You’ll forfeit whatever remains in the account after that time.
Life and accident insurance
You have 31 days from your last day of employment to convert your life insurance coverage to an individual policy or port (take with you) up to the full amount of your current term coverage. You will automatically receive conversion forms.
Savings and retirement
- If you have made an active election to participate in the 401(k) plan prior to termination, that deferral amount will apply to eligible wages paid to you within 45 days after your separation from employment.
- If you have worked at Honeywell for at least three years, the Honeywell matching contributions are 100 percent vested. Otherwise, you are not eligible to receive the Honeywell matching contribution.
- You’re always 100 percent vested in your own contributions.
- If you leave Honeywell, you can do the following with your vested money:
- Leave it in the Honeywell 401(k) plan if your balance is at least $5,000.
- Roll it over to another employer’s 401(k) plan or other qualified plan (e.g., Traditional or Roth IRA).
- Take a distribution (includes tax consequences and potential penalties). Please consult with your tax advisor regarding how a distribution may affect you.
Learn more on the Fidelity website.
Legal assistance plan
You have 30 days from your last day of employment to convert your legal assistance coverage to an individual policy providing coverage for the 12 months following your termination or retirement. Contact MetLife Legal for more information.
It’s important to update your information in HR Direct, including a personal email address, to ensure you will continue to receive communication, such as your W-2, from us after you leave. Pay special attention to the invitation to sign up for the Alumni Hub. This site provides access to critical documents such as paystubs and past benefits information.