PlanNotes
How Your Benefits Are Taxed Contributions for Voluntary Employee Life Insurance, Voluntary Dependent Life Insurance, and Voluntary Employee-Paid LTD premiums are made on a "post-tax" basis. Employee payroll contributions for Medical/Prescription Drug and Dental Insurance are made on a "pre-tax" basis.
ChangingYour Benefits (Qualifying Life Events) The Internal Revenue Service (IRS) rules state that employees enrolled in pre-tax benefit plans may only make benefit elections to these once a year. As such, your annual open enrollment benefit choices are binding through December 31 st .
The following special circumstances are some of the reasons you may change your benefits during the planyear:
Marriage
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⮞ Birth, adoption, or placement of a child for adoption ⮞ Divorce orlegal separation ⮞ Termination or commencement of your spouse's coverage when your coverage is maintained throughyour spouse's plan ⮞ Shift from part-time to full-time status (or vice versa) by you or your spouse ⮞ Death of spouse or dependent ⮞ When a dependentsatisfies or ceases to satisfy eligibility requirements ⮞ Takingan unpaidleave of absence(you or your spouse) ⮞ Gain or loss of eligibility for Medicaid or a Children's Health Insurance Program (CHIP) or for a premium assistance subsidy under these programs (60-day electionperiod) These specialcircumstances,often referred to as Qualifying Life Events or life event changes, will allow youtomake planchangesduringthe year inwhich they occur.For anyallowablechanges,youmust inform Human Resources within 31 or 60 calendar days of the event (depending on the type of event) to avoid a lapse in coverage. Changes that are requested due to a "change of mind" cannot be allowed until the next annual enrollmentperiod.
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