Life Event Changes
Federal tax law states that you cannot change your benefit elections during the year unless you have a qualified life event change.
Some examples of qualified life event changes include:
- Birth, adoption, placement for foster care or legal custody of a child
- Marriage, divorce or legal separation (recorded through the Clerk of Court)
- Gain or loss of spouse's coverage due to change in employment
- Gain or loss of child's eligibility
- Gain or loss of coverage under Medicare or Medicaid
- Death of spouse or child
- COBRA coverage expires or COBRA subsidy expires
- Start or end of unpaid leave of absence
- Start or end of military leave of absence
- Change in daycare (Dependent Care FSA only)
- Spouse moves into or out of the United States
- Significant change in health care cost of spouse's plan
- Gain or loss of coverage during spouse's annual benefits enrollment (other than January 1)
- Loss of child(ren)'s coverage under a parent's plan (due to plan's eligibility requirements)
- Loss of associate's coverage under a parent's plan (due to plan's eligibility requirements)
The examples listed above do not apply to every benefit election. Each benefits election may have a unique list of qualified life changes.
Changes to your benefit elections must be initiated through Workday within 31 days of the qualifying event.
Any change in coverage or contributions must be approved by Benefits Administration and will become effective as the date of the status change. See directions for Life Event Changes for more information.
Please Note: As a part of the LifeForce program, participants covered under the BB&T Medical Program are eligible to earn a medical credit (if applicable based on their LifeForce Phase). To earn a medical credit, you must complete the Health Assessment (HA) on an annual basis by the last day of the month of your first appointment of the year.
If your spouse is covered under the BB&T Medical Program, he or she is also required to complete the HA by your deadline for you to receive your full medical credit (if applicable based on your LifeForce Phase). If your spouse is added to medical coverage due to a qualified life event change, after your HA deadline, the spouse credit will be applied (if applicable based on your LifeForce Phase) starting the first pay of the month following their completion of the HA. For more information, visit the Wellness tab on BBTBenefits.com.
If you are unable to participate in any of the health-related activities or achieve any of the health outcomes required to earn a medical credit, you may be entitled to a reasonable accommodation or an alternative standard. You may request a reasonable accommodation or an alternative standard by contacting a Peak Health nurse practitioner at 252-237-5090.