Why Re-enrol?
It’s in your best interest.
Even if you are happy with your current coverage selections, re-enrolling is your only opportunity to see if there are any changes to your coverage costs before they come into effect.
Reviewing your benefits each year means you pay only for the benefits you need. If the option you select doesn’t give you the appropriate level of coverage for your personal needs, you may end up paying for expenses out of pocket that could have been covered by a different option.
If your spouse is also covered by a benefit plan, it makes even more sense. You may be able to select a lower coverage option and direct money to your Health Care Spending Account.
If you don’t re-enrol by the April 1, 2024, deadline at 8 p.m. ET:
- Your current benefits choices will remain in place.
- You won’t be able to change your coverage until the next annual re-enrolment period, unless you experience a qualifying Life Event.
A Life Event is a major event in a person’s life resulting in a need to make a benefits change before the next re-enrolment. Life Events include:
- Birth, adoption or gain of legal guardianship of a child;
- Marriage;
- Divorce or separation;
- Death of a dependent (spouse or child); and
- Change in spouse’s benefits coverage.
You have 31 days from the date of a qualifying Life Event to make changes to your benefits coverage.
It’s all online! You can now make and confirm your beneficiary designation(s) through the Franchise Benefits Store.
It ensures that:
- Your Life and AD&D Insurance benefits are paid directly to your beneficiary (rather than your estate); and
- The benefits are not paid to someone you don’t want to receive them.
If there is no confirmed beneficiary on file, your insurance benefit will be paid to your estate.
Check to see who is currently on file to receive your Life and AD&D Insurance benefits:
- Go to the Franchise Benefits Store and log in.
- Click the “Benefits” tab at the top, and then “Beneficiary Updates” for a list of your beneficiaries. If it says “Not assigned” by the beneficiary name, there is no confirmed beneficiary on file.
- If you would like to make a change to your beneficiary, select “Make a Change?,” follow the instructions and you’re all done!
