Several factors come into play when your employment with Phillips 66 ends. How will your benefits change? How do you collect your last paycheck? The information below will help support a smooth transition.
To help you think about how your life change will affect you, review the following list.
Enrolled coverages end on the last day of the month in which employment ends. You may be able to continue coverage for medical, dental, vision, and Lyra under COBRA.
If you are enrolled in the HDHP option with HSA, the funds in your HSA are yours to keep, including any company contributions. You will be charged a monthly fee for your account.
Your active coverage in the Flexible Spending Plan will end on the last day of the month in which your employment ends. You may be eligible to enroll in HCFSA COBRA coverage.
If so, you may be able to port or convert some coverages.
As you plan to leave the company, it's a good idea to ensure your beneficiary designations are current.
If corporate events result in your involuntary loss of employment, you may be eligible for Severance Pay Plan benefits that can help provide a measure of security during your transition to a new job.
Please review the Severance chapter in the Health and Well-Being Handbook.
* Please note that many of our plans have the same or similar terms, which are located in the Other Information chapter of the Health and Well-Being Handbook.
Educational Reimbursement Application Form
Go to HR Connections
Eligible employees could receive a VCIP payment in the February following separation based on eligible earnings to date. This payment will be distributed as soon as administratively feasible.
Review your Savings Plan and Pension benefits. Review the Phillips 66 Leaving the Company Summary document for additional information or contact HR Connections at (855) 480-6634 or (918) 977-7905 7:00 a.m. - 5:00 p.m. CT, Monday - Friday for further information.