When Benefit Changes May Be Made

Medical and Dental Insurance
Pre-Tax Reimbursement Accounts
Supplemental Retirement Accounts
Life Insurance

Medical and Dental Insurance

During open enrollment each fall, you may:

·         Begin medical or dental insurance coverage.

·         Choose a different medical plan.

·         Change individual or family coverage.

Changes made in medical and dental insurance during open enrollment will be effective the following January 1.  Changes cannot be made at times other than open enrollment except during the 30 days immediately following certain changes in family status. Examples of changes in family status are marriage, death of a covered dependent, birth or adoption of a child, divorce or legal separation, loss of coverage through a spouse’s employment, and a dependent’s move into the state.

Your current medical and dental coverage will continue during the next calendar year unless you change coverage during open enrollment.  You may, however, drop medical or dental insurance at any time.

Pre-Tax Reimbursement Accounts

You may establish a pre-tax medical expenses reimbursement account (MERA) and a pre-tax dependent care reimbursement account during fall open enrollment. IRS regulations do not permit the university to automatically continue a pre-tax reimbursement account from one year to the next and permit changes in an account only during open enrollment or during the 30 days immediately following a change in family status, including, for dependent care accounts, a significant change in the number of hours worked by the faculty or staff member or spouse. A reimbursement account will end on December 31 unless it is reestablished during fall open enrollment.

Supplemental Retirement Accounts

You may open or change a supplemental retirement account during open enrollment or at any time during the year to be effective on the first day of the following month. In any event, however, contributions to a supplemental retirement account end on December 31 each year unless the participant renews them. You may cancel contributions to a supplemental retirement account at any time.

Life Insurance

A faculty or staff member may enroll in optional life insurance without evidence of insurability or increase coverage without evidence of insurability only during the first 30 days of employment only to a maximum of $200,000 without evidence of insurability.  Optional life insurance can be purchased at other times and for larger amounts only if the faculty or staff member submits evidence of insurability that is satisfactory to the insurance company.