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Open Enrollment Overview

Open Enrollment Overview. Invest some time in your benefit package. What is Open Enrollment?. Annual event Premiums subject to change Changes can be made without there being a Qualifying Event Perfect time to consider changes to your benefit package

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Open Enrollment Overview

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  1. Open Enrollment Overview Invest some time in your benefit package 1

  2. What is Open Enrollment? • Annual event • Premiums subject to change • Changes can be made without there being a Qualifying Event • Perfect time to consider changes to your benefit package • A time to “do the math” when you weigh the various premiums

  3. Why have open enrollment? • Allowed by Federal law • Life changes • Marital status • Spouse/partner’s employment status changes • Spouse/partner’s medical premium changes • Children born, attend college, get jobs • Spending account needs change over time • Life insurance needs change • Annual review of all benefit enrollments • Voluntary benefits need review also

  4. What’s involved with the Open Enrollment Process? • Receive the Open Enrollment form from Human Resources • Attend a Benefits meeting or review the Open Enrollment powerpoints • Attend the Benefits Fairs, if possible • Call or email HR with questions • Return your completed, signed Open Enrollment form to HR by Friday, October 28th.

  5. What if I don’t turn in my Open enrollment form? Default coverage (no form returned) is: • Same level of insurance coverage as previous year • Same Healthcare and Dependent Care spending accounts as previous year • Same dependents • Same beneficiaries Premiums will be adjusted to reflect new rates

  6. Are there any other forms I need for Open Enrollment? This additional information, if applicable: • Evidence of Insurability (EOI) form if • You are enrolling in Supp Life for the first time (previously declined) • You are enrolling your spouse onto Dependent life for the first time OR onto the $50,000 level • You are enrolling in the 10% Supp LTD for the first time (previously declined) • If ADDING family members onto any level of coverage: • Copy of last tax return OR • marriage license for spouse AND birth certificates for added children • Evidence of domestic partner, if adding your partner onto any insurance for the first time

  7. Where can I find more information? Your enrollment packet included a booklet giving an overview of all plans. Powerpoint presentations on all aspects of the insurance products and other benefits are available at www.cmmfhealthydecisions.com

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