Colby offers a wide variety of benefits to eligible employees, including medical, vision, flexible spending, retirement, and paid time off.
There are three occasions when employees can enroll in or make changes to their benefits:
- As a newly hired or newly eligible faculty or staff member
- During the annual open enrollment period
- When they experience a qualifying change in family status
For new hires, or rehires, who start work on the first day of any month, benefits are effective immediately. For those whose start date is after the first of the month, benefits are effective on the first date of the following month. Employees must enroll in benefits within 30 days of their effective date.
When you enroll in benefits, your elections remain in effect until the end of the calendar year and you cannot make any changes until the next open enrollment period, which is usually in November. Changes made during open enrollment become effective January 1.
If electing not to have medical insurance through one of the plans offered by the College, you must provide proof that you have coverage elsewhere.
Family Status Changes
If you experience a qualifying family status change during the calendar year, you may be able to make a benefit change that corresponds with the status change. To change your coverage when a qualified family status change occurs, you must act within 30 days of the qualifying event for the expected change to be accepted by the College. Otherwise, the IRS requires you to wait for the next open enrollment period.
- View a list of qualifying family status changes and what documentation is required in order to make changes to your benefits
Coverage for Your Spouse and Dependents
If electing coverage for your spouse or other eligible dependents under one of the medical plans or vision plan offered by the College, you must provide an Affidavit of Spouse and/or Dependent Coverage along with a copy of your marriage certificate (if applicable).
The Affordable Care Act requires plans and issuers that offer coverage to children on their parents’ plan to make the coverage available until the adult child reaches the age 26.
What this means is that plans and issuers that offer dependent coverage must offer coverage to participants adult children until age 26, even if the young adult no longer lives with his or her parents, is not a dependent on a parent’s tax return, or is not longer a student. The new policy providing access for young adults applies to both married and unmarried children, although their own spouses and children do not qualify.