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May a participant drop coverage in the middle of a plan year?

YES - Only if the employee or a dependent experiences a qualifying event. The following are a few of the common qualifying events that may allow an employee to change his or her election mid-year: 1. Change in employee's legal marital status (e.g., marriage, divorce, death of spouse, etc.) 2. Change in number of employee's dependents (e.g., birth, adoption, or placement for adoption of a child of the employee) 3. A dependent satisfies or ceases to satisfy the dependent eligibility requirements (e.g., due to attainment of age, student status, or any similar circumstance). Change in employment status of the employee, spouse or dependent (e.g., termination or commencement of employment, strike or lockout, change in worksite, commencement or return from an unpaid leave of absence). There are IRS expanded rules for election changes that are included in the POP document for review.

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