Starting in 2018, you can enroll in an Accident Plan that pays benefits for specific injuries and events resulting from a covered accident.
The Accident Plan is a limited benefit policy. It is not health insurance and does not satisfy the requirement of minimum essential coverage under the Affordable Care Act.
If you are a new-hire or become eligible for coverage due to a qualifying life event and enroll in the plan, benefits begin on the first day of the month following your event date. You have 30 calendar days starting from your event date to enroll and coverage begins on the first day of the month following your event date.
The plan year is January through December. Your plan election is “locked in” for the entire calendar year and does not require re-enrollment during open enrollment. Your elected plan continues from year to year unless you decide to make changes.
If you experience a qualifying life event during the year, you may add or drop dependents but you may not change the plan level (high option, low option). You may change your plan level and drop/add dependents during open enrollment and the changes become effective on January 1.
If you lose eligibility for coverage, terminate employment or retire, your coverage will end on the last day of the month in which the event date occurs.