| TOPIC: | Open Enrollment for Benefit Coverage and Flexible Benefit Plan |
| EFFECTIVE DATE: | 1 November 2000 |
| UPDATED: |
30 May 2008 |
| Approved By: | B. Reissenweber, VP for Finance |
| Policy Number: | 300 |
POLICY
Aurora University offers an Open Enrollment Period each calendar year to allow employees to review and revise their benefit selections under the Flexible Benefit Plan covered by Section 125 of the IRS Guidelines. While certain benefits (such as retirement and supplemental retirement) may be adjusted throughout the year, most benefits may only be changed during the Open Enrollment Period, or within 30 calendar days of a defined “life status change” event.
RELATED POLICIES/DOCUMENTS
302 Domestic Partner Policy and Statement
311 Post Retirement Health Insurance
Summary Plan Descriptions
Benefit Plan Documents
ELIGIBILITY
All active full-time employees, part-time benefit eligible employees, individuals covered under COBRA, and eligible retired employees.
PROCEDURE
Each fall, all eligible employees and retirees are provided with an Open Enrollment packet which includes information on Plan changes, election options, and the deadline for submission of changes to Human Resources.
Health, Dental, Vision and Flexible Spending Account (health or dependent care) Elections made for the Plan Year, which is January 1 through December 31, may not be changed, except due to specific "life status change events" as defined by the Health Insurance Portability and Accountability Act (HIPAA), and outlined in the Summary Plan Description. Such election changes must be made within thirty (30) calendar days of the life status change.
Supplemental Life or AD&D insurance may be dropped during a Plan Year, however, the individual may not re-start coverage until the next Plan Year, and then only with Evidence of Medical Insurability as acceptable to the Plan. Supplemental Retirement and Retirement accounts through TIAA-CREF may be adjusted at any time during the year.
DISCLAIMER
In the event of any contradiction between the information appearing in this document or the Summary Plan Description (SPD) for the benefit, the Plan Document and/or Master Contract shall govern in all cases.
Questions regarding this policy should be directed to Human Resources.
