Changes in Your Life
What happens when you have a child?
Health Plan (Medical / Dental)
You may change your health plan coverage to ensure family coverage. If you are already enrolled in a family medical plan, add your newborn by contacting the Benefits Specialist. You may also cancel your medical coverage in order to elect coverage under your spouse's plan and/or opt-out your child.
Life Insurance Plan
To be sure you have the appropriate coverage to accommodate the change in your family, you should re-evaluate your Life Insurance coverage level; you may want to change your amount. You may decide to change your Life Insurance beneficiaries. Even if you have elected not to buy Supplemental Life Insurance, the University provides a Group Term Life Insurance at no cost to you. If you elect to buy more life coverage at this time, you will be required to provide evidence of good health.
Flexible Spending Accounts
You may wish to reconsider your earliest decisions about participation in Flexible Spending Accounts. You may sign up now or, if already participating, you may want to change your election amount. You may need to increase your Medical/Dental Account contributions to pay for uninsured health care expenses for your child with tax-free dollars. If you will have day care expenses, you may want to begin or increase your contributions on a Dependent Care Account once your spouse or you return from maternity or paternity leave.
Review your investment elected under the Plan to make sure this reflect your new financial goals. Beneficiaries may be changed at any time.
Be sure to make changes with the Human Resources within 30 days of the birth of your child.
|© 2007 Andrews University Human Resources Department|