Individual and Family Life Insurance Enrollees can Increase Coverage, October 17 – November 11, 2016
October 17, 2016
If you are a currently enrolled in the Individual and Family Life Insurance plan as of October 1, 2016, you have an annual option to increase your coverage during the Annual Increase Option (AIO) period from October 17 – November 11, 2016. Coverage increases will be effective January 1, 2017(with new premium(s) deducted from December earnings).
Making the Decision to Increase Your Coverage
Use the personalized Individual and Family Annual Increase calculator: https://uwservice.wisconsin.edu/indfam-increase-calculator/ to see your current coverage level and the amount of your 2017 premiums if you decide to increase your coverage.
You may increase your current coverage during the AIO period by the following amounts:
As you consider increasing your coverage, please note the 2017 maximum coverage levels:
Important Reminder: Spouse/domestic partner or child life insurance coverage may not exceed your total (employee amount) coverage.
Application Information and Deadline
To increase your coverage during the AIO period, submit your election via Self Service (eBenefits). Log into the MyUW portal for UW System institutions or for UW-Madison. Go to the ‘Benefit Information’ module and click on the ‘Open Enrollment’ link. You will receive a Benefit Enrollment Confirmation via email after you have submitted your election.
All elections to increase coverage must be submitted online or received by your benefits office by 4:30 p.m. on November 11, 2016. If you mail your application, it must be postmarked by November 10, 2016.
Decreasing or Canceling Coverage
If you decide to decrease or cancel your coverage, this action cannot be completed through Self Service (eBenefits), you must complete the Individual and Family Group Term Life Insurance application. The application is also available on the UW System Forms and Publications web page. Applications to decrease or cancel coverage may be submitted at any time during the year. Coverage decreases or cancellations are effective the first of the month following the receipt of the application.
Questions?
Visit the Annual Benefits Enrollment website for more information about the Individual and Family Life Insurance plan and other benefits enrollment opportunities available this year. If you have questions, please contact your institution HR office benefit contact.
Source: UW Service Center
Categories: Insurance