How to apply for Life Insurance changes next week?
Most life insurance application changes require a printed application and an Evidence of Insurability (EOI) form. These forms must be submitted to your Payroll Department. They will forward applications to NDPERS. Do not submit forms directly to NDPERS or Voya.
Supplemental Employee Coverage
- Applying for $25,000 increase in existing Supplemental Employee Coverage, not to exceed the $300,000 Guarantee Issue Limit
Submit a life insurance application. An Evidence of Insurability (EOI) is not required.
- Applying for more than $25,000 increase in Supplemental Employee Coverage up to the $300,000 Guarantee Issue Limit
Submit two applications.
First application: One for $25,000 without an EOI. The $25,000 can be guaranteed without underwriting, as long as you remain under the $300,000 Guarantee Issue Limit. An Evidence of Insurability (EOI) is not required.
Second application: One for the total amount you wish to increase and an EOI form. This amount will be subject to underwriting by the life insurance carrier (Voya).
- Applying for increased coverage above the $300,000 Guarantee Issue Limit, or newly adding Supplemental Employee Coverage (currently have only Basic level of coverage)
Submit one life insurance application and an EOI to your Payroll Department.
Supplemental Spouse Coverage
- With the Life Insurance enhancements, employees can elect to apply for increased coverage on their spouse, up to 50% of the total employee coverage. Any supplemental spouse applications will require an Evidence of Insurability (EOI) and a Life Insurance Application.
Insurance Benefits Overview
Detailed information about eligibility and how to make your benefit elections will be available on our website on Monday, October 16.
Dental & Vision Insurance
When you enroll, you may not cancel your dental or vision coverage during the plan year unless you terminate employment. You may also make changes consistent with a qualifying event or ineligibility of a dependent.
NDPERS Dental Insurance Plan is offered through Delta Dental of Minnesota.
If your employer offers another dental insurance provider, such as Total Dental Administrator (TDA), ask your employer how to enroll in that program. You can only enroll with Delta Dental through NDPERS Member Self Service (MSS).
FlexComp: Medical and Dependent Care Flexible Spending Accounts (FSA)
This benefit helps you set aside money from your paycheck on a pre-tax basis to pay for medical and dependent care expenses. That means you do not have to pay federal tax, and in most cases, state income tax, or FICA taxes on those dollars, which means you have more money in your pocket!
When planning for the next year, you should take a look at your prior year's expenses to anticipate your future expenses. ASIFlex is our third party administrator for this benefit. Use their eligible expense list and savings calculator to make the most out of this benefit.
High Deductible Health Plan (HDHP) with Health Savings Account (HSA)
The HDHP has higher annual deductibles; therefore, you will have higher out-of-pocket costs for medical services. However, the higher initial out-of-pocket costs may be offset by an employer contribution to an HSA created in your name.
The NDPERS HDHP has a cap on how much you will pay out-of-pocket during a year, and it covers preventive services (as designated by the Affordable Care Act (ACA)) with no out-of-pocket costs to you. The HSA helps cover medical expenses until your annual deductible and out-of-pocket maximum are met. Use the HSA FAQ to understand this plan better.
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