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.