Can an employee enroll in their StretchDollar health benefit at a later time?

Employees must accept their StretchDollar health benefits and enroll in a qualified health plan within 60 days from the start date of their StretchDollar ICHRA plan. They cannot accept the benefit later unless they have what is called a Qualifying Life Event (QLE)

Some examples of qualifying life events include:  

  • Loss of existing health coverage
    • Losing coverage through a family member (like a spouse, for example)
    • Turning 26 and losing coverage through a parent’s plan
    • Losing eligibility for Medicare, Medicaid, or CHIP
  • Changes in household
    • Getting divorced or legally separated
    • Getting married
    • Having a baby or adopting a child
  • Changes in residence
    • Moving to a different ZIP code or county

If an employee has a QLE at a later date, a special enrollment period would be initiated and the employee would be able to decide whether to enroll in or waive StretchDollar health benefits at that time. 

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