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Life Events, Insurance Choices
Employees are key resources of any organization. But for a small business, employees are more than that. To a small business owner, employees are often thought of as members of a family. And, when one of these “family” members experiences a happy life event such as the birth or adoption of a child, it is a joyous time. After the celebration is over, however, you need to make sure your small group insurance policy is up-to-date.
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A Visit From the Stork
Although the laws that regulate the insurance industry vary from state to state, typically a newborn can be added with an effective date that is the date of birth if notification is received by the insurance company within 31-90 days. Notification can take the form of a phone call, a claim, or written request. The simplest method, however, to add a new dependent to your Assurant Health policy is through myaccount, Assurant Health’s online policy management tool.
myaccount Makes Notification Easy
Using the myaccount online policy management system to add a new dependent to your policy is quick and easy. With just a few clicks of the mouse, you can complete the notification process and while you are at it, you can send the employee an ID card for his new dependent.
State-by-State Notification Rules
Typically, Assurant Health must be notified within in 31 days of the birth of a child for automatic enrollment. However, some states have different rules.
Arkansas — Notification must be received within 90 days.
Minnesota — No notification period is required, however premiums will be charged back to the date of birth upon notification.
Vermont — Notification must be received within 91 days.
Washington — Notification must be received within 60 days.
Wisconsin — Notification must be received within 60 days. However, if notice is received within one year after the date of birth and the insured makes all past due premium payments, coverage cannot be denied.
All Other States — Notification must be received within 31 days.
What if Notification is Late?
If notification of the birth of a child is not received within the required timeframe, the dependent is considered a late enrollee and an Employee Enrollment Form needs to be submitted for underwriting review. The effective date for late enrollees is the first of the month following approval.
What if Coverage is Not Wanted?
Typically, when coverage is not wanted for a newborn, coverage is automatically provided without premium for the first 31 days. However, in Wisconsin, coverage is provided for 60 days.
If the newborn is being removed due to other coverage, the removal date can be the effective date of the other coverage provided that proof of the other coverage is received within 90 days from the effective date of the other coverage. If proof is received more than 90 days after the effective date of the other coverage, or not received at all, the removal date can go back 30 days from the date of the original coverage.
What About Adopted Children?
Requests to add adopted children must be received in writing. If the request is received more than 31 days after the final adoption date, the child is considered a late enrollee and an Employee Enrollment Form is needed. All requests to add an adopted child should be sent to the Underwriting department, which will process the change.
Typically, if notification is received within 31 days from the final adoption date, the effective date of coverage will be the final adoption date. If the request is received more than 31 days after the final adoption date, Underwriting will determine the effective date of coverage.
Contact Assurant
Life events are a great time to look at your insurance needs. Do you have the best insurance for your business? Contact Assurant when your “family” experiences a life event to review your smart insurance choices.
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