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Why is Health Coverage
important to have?
Health coverage protects you from health and financial risks.
No one
plans to get sick or hurt, but most people need medical care at some
point. Health insurance covers these costs and offers many other
important benefits.
Health insurance protects you from unexpected, high medical
costs.
You pay less for covered in-network health care, even before
you meet your deductible.
You get free preventive care, like vaccines, screenings, and
check-ups, even before you meet your deductible.
Make Changes during the Year
(Qualified Life Events)
The Internal Revenue Service (IRS) states that eligible employees
may only make elections to the plan once a year at open enrollment.
Unless you have a qualified change in status, you cannot make
changes to the benefits you elected until the next open enrollment
period. The following qualified changes in status include:
Marriage;
Divorce;
Birth or adoption of a child;
Change in child’s dependent status;
Death of spouse; child or other qualified dependent;
Change in residence due to an employment transfer for you
or your spouse;
Commencement or termination of adoption proceedings, or
Change in spouse’s benefits or employment status.
If any of the above-listed qualified changes occurs, you must inform
the ABC Company Benefits Department within
30 days of the event
to avoid lapse in coverage. If you have a qualifying life event, gather
supporting documentation of the life event and contact the Benefits
Department. All other changes are held to open enrollment period.