Open Change Period Information

Mark your calendars now!  The 2018 Open Change Period will begin on Wednesday, November 1, 2017 and close on Friday, November 17, 2017 at 5:00pm.  This is the time of the year when you have an opportunity to elect or change your health insurance, dental insurance, life insurance, flexible spending accounts and optional eyewear plan or the upcoming plan year.   Even if you are not planning to change your benefit elections, it is a great opportunity to review your benefits and beneficiaries.   

It is the employee's respnsibility to be aware of open change and to review benefit elections and beneficiaries.  

Iowa State University holds an open change period annually:

  • Beginning at 9:00 a.m. on the first working day in November
  • Ending at 5:00 p.m. on the Friday before Thanksgiving
  • You will receive notification e-mails with information regarding the open change period
  • Information regarding the open change period will be available on the benefits web page at: http://www.hr.iastate.edu/benefits  in November
  • You can also access the Open Change Benefit Guide at either the ISU Benefits web page or the link in AccessPlus from the menu title “Benefits Info”

 

Live Connect Web Cast Event:  November 3, 2017            

Pre/Post Doctoral Associates:  9:00am - 10:00am

Merit Staff:  10:30am - 12:00pm

Faculty, P&S and Supervisory/Confidential Merit Staff:  1:30pm - 3:00pm

To join the web cast:   https://connect.extension.iastate.edu/benefits   

 

Effective Dates for Changes Made During Open Change Period:

  • January 1 - medical/prescription drug, dental insurance, eyewear plan, health care flexible spending account or dependent care assistance program
  • January 1 or upon Principal approval - life insurance

 

Possible Changes:

  • Medical Plan - You may change from one medical plan to another without a waiting period for pre-existing condition.  During this period you may also add or remove dependents.

  • Dental Plan - You may begin Basic coverage without incurring the deferred coverage waiting period.  During this period you may also change from the Basic Plan to the Comprehensive Plan or from the Comprehensive Plan to the Basic Plan, provided you have been enrolled in the Comprehensive plan for at least three years (see information regarding the three-year lock-in on the Comprehensive Plan in the Open Change Benefits Guide).  During this period you may also add or remove dependents.

 

  • Group Term Life Insurance (Basic) You may apply for the coverage during the open change period.  You will be required to complete a Principal Statement of Health Questionnaire. Principal will send an e-mail with instructions on completing the online Statement of Health. If approved by Principal, coverage will begin on a date determined by Principal.

  • Health Care Spending Account (FSA) and Dependent Care Assistance Program (DCAP) - Annual reenrollment is not required.  Once a spending account is elected the employee contribution will continue year after year unless the employee makes a change during open change.  During this time you may begin, stop, increase or decrease participation in either the FSA or DCAP.

 

  • Voluntary Term Life Insurance - You may elect to begin, increase or decrease Voluntary Term Life Insurance coverage during the open change period.  If you elect coverage or to increase coverage after initial eligibility, you will be required to complete a Principal Statement of Health Questionnaire.  Principal will send an e-mail with instructions on completing the online Statement of Health. If approved by Principal Financial Group, coverage will begin on a date determined by Principal.

Voluntary Term Life Insurance coverage may be stopped at any time.  You must request to stop coverage in writing and the insurance will be terminated by the 1st of the month following the day your written request is received by the Benefits Office.  If you are also enrolled in dependent term life, be aware that stopping voluntary term life will automatically end the dependent term life coverage.

  • Dependent Term Life Insurance - You may elect to begin, increase or decrease Dependent Term Life Insurance coverage during the open change period.  If you elect the coverage or elect to increase coverage after initial eligibility, you will be required to complete a Principal Statement of Health Questionnaire.  Principal will send an e-mail with instructions on completing the online Statement of Health. If approved by Principal, coverage will begin on a date determined by Principal.

Dependent Term Life may be stopped at any time. You must request to stop in writing and the insurance will be terminated the 1st of the month following the day your written request is received by the Benefits Office.

  • Avesis Vision Eyewear Plan - You may elect to begin, change or end enrollment in Avesis Vision.