Changing coverage
during the year
Under Section 125 of the Internal Revenue
Code, you must remain enrolled in your pre-tax benefits for the entire benefit
plan year (April-March). These pre-tax benefits at Rollins College include: health
insurance, dental insurance, flexible spending accounts, voluntary life
insurance, cancer insurance, and heart care plus insurance. You must also
remain enrolled in your after tax long term care insurance for the entire
benefit plan year under Rollins College policy. The next opportunity you have
to change your level of coverage is during the next year's open enrollment
period (February & March) unless you experience a qualified status change.
Qualifying status changes include, but
are not limited to:
-
Change in legal marital status (marriage or
divorce)
-
Change in number of dependents (birth, adoption,
or death)
-
Change in employment status (gain or loss
of employment or change from full time to part time)
-
Dependent satisfies or ceases to satisfy dependent
eligibility requirements
-
Change in coverage under another employer
plan
-
Medicare or Medicaid entitlement
Should you experience a family status change
throughout the year, you have thirty-one (31) days to make changes to your
benefits. If you do not make changes within thirty-one days you must wait until
the next open enrollment to make changes. Coverage changes made mid-year
will be effective on the date of the change in status (ie. loss or gain of
coverage).
To make changes you must provide to Human
Resources within thirty (31) days of the status change:
-
a mid year change tax savings election form
(available on the HR Forms page under Benefits:
Mid Year
Change Tax Savings Program Form (April 2009-March 2010)
-
documentation detailing your status change
and effective date of benefits or loss of benefits (from previous employer
or insurance carrier)
-
all applicable enrollment forms
Please contact Human Resources at 407-646-2353
or dpeterson@Rollins.edu for further information.