For many companies, now is the time to evaluate benefit packages and to enroll employees and their dependents before year end. Unfortunately, many people consider open enrollment to be a 24/7 opportunity. Traditionally, the employer chooses an eligibility period that must be met by the new employee for benefits. When waiting periods are met, the employee completes all necessary documents, enrolling him and any family members on the company plan. This is the first enrollment, and should that enrollment period be ignored or overlooked, the employee will find themselves without coverage until open enrollment. Open enrollment is only the narrow band of thirty days prior to the renewal of a firm’s insurance programs. Let’s review the expected process, and the life events that allow enrollment all through the year.

In Colorado, open enrollment exists for employees in the thirty days prior to the renewal of the health insurance. This will be an opportunity for dual income families to change between their separate employer plans, selecting the one that suits their needs best. Also, review your family’s enrollments to see that all eligible children are enrolled. This includes any stepchildren or other children that you are designated as the legal guardian. If children or spouses remain on separate employer or individual coverage, be certain that a waiver of coverage for them is given to your HR department. Should life change and specific qualifying events occur, this will allow family members who waived coverage, to enroll at other times of the year. They will not need to wait for the next open enrollment period.

Other enrollment opportunities are tied to important life events. Qualifying events include birth, adoption, marriage, divorce, and death. Job related events include the loss of employment, or the end of COBRA or State Continuation. Again, the opportunity to enroll because of these changes is limited to 30 days from the event. Missing the deadline will result in waiting to the firm’s annual open enrollment period tied to the renewal.

Healthcare reform is triggering additional opportunities to enroll. If you have a dependent under age 26, many carriers are allowing that person to enroll, some in a special open enrollment this October, and others at the company’s annual renewal. This enrollment can even be extended in some cases if that dependent is married. Please check with your HR department and the carrier as to the specific course they will require to enroll these overage dependents in this new environment.