- Records are kept in InsPro.
- The effective date of coverage is the first of the month on or following 31 days from the last day of coverage under the group plan (even if the group allows more than 31 days for timeliness). If over-GSI coverage goes through medical underwriting, the effective date of the underwritten coverage will be the first of the month following EOI approval.
- There is no free-look or right-to-review period.
- Insureds may reduce coverage after enrollment to any increment of $1K, subject to the Port minimums.
- Insureds may not increase or add family members after enrollment.
- Most plans reduce to 65% at age 65, then to 40% at age 70, and then to 25% at age 75, rounded up to the next highest $1K. Variations exist and can be found using the plan design document. Plan Summary & Rates- Port.xlsm Reductions occur on the January 1st after attainment of the specified age. Age-reduced amounts should not fall below the floor minimum of $5K for the EE or $1K for the SP. There is no Conversion option for coverage lost due to the age reductions.
- Typically, employee and spouse coverage terminates on the January 1st after attainment of age 99, and there is no Conversion option. Some group exceptions exist where coverage terminates at a younger age.
- In the case of divorce, the spouse coverage terminates on the date of the divorce and there is no Conversion option.
- Child coverage ends on the January 1st after attainment of the maximum child age for the group. This will vary by client and may or may not depend on student status. We will not issue student status letters when children reach certain ages. We rely on the member to tell us when a child has reached the limiting age. There is no Conversion option for children who terminate from the Portability plan.
- Some ported plans will include Premium Waiver provisions (for the EE only). Whether or not a ported plan will have Waiver can be seen in the plan design document. Plan Summary & Rates- Port.xlsm
- If elected, the AD rider ends on the January 1st after attainment of age 70 (some group exceptions exist).
- If the employee passes away after porting, the spouse and child coverage will end. There is no continuation.
- Use this chart Plan Summary & Rates- Port.xlsmto view Port variations (age reductions, termination ages, etc.) for existing insureds in InsPro.