Annual enrollment, October 1 through November 13, is your chance to
- change your medical coverage level, if needed;
- enroll for or make changes to dental coverage; and
- apply for supplemental death coverage or change your coverage level.
Annual enrollment is your only opportunity to make these changes unless you experience certain qualifying life events during the year (such as getting married or the birth of a child).
This annual enrollment period is also a great time to consider other benefits, including the Retirement Savings Plan and Long-Term Care Insurance.
Medical Coverage Level
Check your medical coverage level to make certain it still fits your needs. Your personal situation may have changed in the last year, and you may not need or want the same level of medical coverage. For example, if you have Member-only medical coverage and your covered partner will not have medical coverage available next year, you may want to change your coverage level to Member + Family for 2016. To make a medical coverage-level change, complete a Dependent Change form and submit it to your employer, with the required documentation, before the November 13 deadline.
Annual enrollment is the time to determine your dental needs for 2016. You can enroll for dental coverage for yourself and eligible family members — or make changes to your current coverage. (If you did not enroll when you were first eligible and want to enroll now, benefits will be limited to preventive and diagnostic services for the first 12 months, and there will be a 24-month waiting period for orthodontia services for eligible children.) Enroll online quickly and securely through Benefits Connect.
Supplemental Death Benefits Plan
The Supplemental Death Benefits Plan provides additional financial support in the event of a death. You can apply for this optional benefit or make changes to your existing coverage now through November 13. Coverage is available for members, covered partners, and children. Apply online quickly and securely through Benefits Connect.
Retirement Savings Plan
The Retirement Savings Plan, a 403(b)(9) defined contribution plan, offers you the opportunity to save more for your future. Your savings and earnings may supplement the retirement income you may receive from pension and Social Security benefits.
If you are already enrolled, annual enrollment is a great time to take a fresh look at how much you are saving and the way in which your savings are invested. Along with a range of investment options that includes target date funds and socially responsible investments, the RSP includes a Roth option for after-tax contributions. Annual enrollment is also a good time to review and update your beneficiary designations if needed.
If your employer offers the RSP and you would like to enroll, download the Fidelity Investments Enrollment Form for the 403(b)(9) Retirement Savings Plan of the Presbyterian Church (U.S.A.) and the Retirement Savings Plan Salary Deferral Agreement from pensions.org. Complete and sign the forms and give them to your employer to process. Or, you can call the Board of Pensions at 800-773-7752 (800-PRESPLAN) to request the forms.
Long-Term Care Insurance
Long-Term Care (LTC) Insurance provides financial support if a physical illness or disability makes assistance with daily living activities necessary.
Please note: After December 31, 2015, CNA, the Board’s vendor partner that provides this coverage, will no longer offer LTC insurance to new enrollees. This will not affect current plan participants. If you do not currently have LTC coverage through the Board and are interested in enrolling, you must apply for LTC coverage before December 31, 2015. LTC coverage will not be available through the Board after that date. For more information and to apply online, visit pensions.org for a link to CNA’s secure website.
Take Advantage of Benefits Connect, the Board’s Secure Website
To review your current benefits quickly and securely, log in to Benefits Connect, the Board’s website for personalized benefits information. You can also enroll for dental benefits and apply for supplemental death benefits through Benefits Connect.
For information about these benefits and how to apply, visit pensions.org/annualenrollment.