Open Enrollment is a designated period during which employees can make changes to their health insurance and other benefits plans. This period typically occurs annually and allows employees to enroll in, switch, or make adjustments to their benefit plans without needing a qualifying life event. The purpose of open enrollment is to give employees the opportunity to select the benefits that best suit their needs for the upcoming year, based on changes in their personal circumstances or available plan options.
For example, if an employee’s family situation changes, such as the birth of a child, they might use the open enrollment period to add a new health plan or adjust their existing coverage. Employers are required to provide employees with information about the available plans, costs, and coverage options prior to the open enrollment period to ensure informed decision-making.
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