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OPEN ENROLLMENT
OPEN ENROLLMENT
Open Enrollment for health benefits occurs annually and provides employees with the opportunity to:
Review their current health insurance plan and coverage options.
Make changes to their existing health insurance coverage, such as selecting a different plan or adding or removing dependents.
Enroll in health insurance if they didn't have coverage previously.
Adjust other benefits like dental, vision, and flexible spending accounts if they are offered by the employer.
Open Enrollment takes place in May of each year, and all changes go into effect at the start of the new fiscal year in July.
QUALIFYING EVENT
QUALIFYING EVENT
A qualifying event, also known as a life event, is a significant change in your circumstances that allows you to enroll in or make changes to your health insurance coverage outside of the annual Open Enrollment Period. Qualifying events include the following:
Marriage or Divorce: Getting married or divorced can trigger a qualifying event, allowing you to make changes to your health insurance coverage.
Birth or Adoption of a Child: When you have a new baby or adopt a child, you can usually add them to your health insurance plan.
Loss of Other Coverage: If you lose your existing health insurance coverage due to reasons like job loss or the expiration of a previous policy, you may qualify for a special enrollment period.
Change in Residence: Moving to a new area or relocating to a different state can be a qualifying event that allows you to select a new health insurance plan.
Income Changes: Significant changes in your income, such as a decrease that makes you eligible for Medicaid or an increase that affects your eligibility for premium tax credits, can trigger a special enrollment period.
Turning 26: Young adults who were previously covered under their parents' health insurance plans typically have a qualifying event when they turn 26, as they need to obtain their own coverage.
Loss of Dependent Status: When a dependent child no longer qualifies for coverage under their parent's plan due to age or other factors, it can be considered a qualifying event.
Legal Separation: If you are legally separated from your spouse, it may allow you to make changes to your health insurance coverage.
FIRST BENEFIT DEDUCTIONS
FIRST BENEFIT DEDUCTIONS
While you have 30 days to elect to enroll in the above plans, your effective date for your Medical Insurance will be made retroactively to your start date. This means your deductions will be manually adjusted to “catch you up” on your first two paychecks.
Your first dental deduction will be shown on the payroll reflecting the 1st of the month following 30 days.
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