Open enrollment is closer than you think. Get the cheat sheet and eGuide.

Planning ahead is always a good thing. That’s why you should think about January open enrollment now. Here’s a reminder, a cheat sheet and an eGuide to help you get ahead. If your open enrollment is at a different time than January, you can still prep with these resources!

INSIDE: 

• eGuide: 10 Employee Benefits That Are Actually Worth The Investment
• Two new events about growth and purpose
• An open enrollment cheat sheet

ARTICLE

A lot of employees are surprised to learn that the health, dental or vision coverage they elect during open enrollment is final (with some exceptions). They can’t just say, “Hey, I changed my mind,” later and switch things up.

There’s a good reason for that:

Most of the money employees use to pay for benefits is taken out of their paycheck before taxes. That’s a nice, money-saving perk. But because of that tax-favored status, the IRS puts some pretty strict rules in place, which is why there are no do-overs.

So, what about when “life happens?”

There is a way to make changes outside of open enrollment. That would be a “life status change event.” These are big personal events like:

• Getting married or divorced
• Having or adopting a child
• Losing other group coverage
• A death in your covered family
• Gaining a new domestic partner

If something like that happens, employees may be eligible to make benefit election changes usually within 30 days after the event. A complete list of life status change events is typically included in the Summary Plan Description (SPD).

You and your employees only get one shot a year to get this right (unless life throws them a curveball). You can help them choose wisely.