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What are the various age redetermination options?

Immediate: On the enrollee's birth anniversary. If the enrollee advances to a new age band, their new premium will be effective from the date of their birthday.

Example: An employee’s life policy is effective 1 / 1 /2020. The employee turned 30 on 2 /15/2020 and moves into a new 30–34 age band. If the life plan age redetermination setting is "immediate," we recalculate the life plan premium effective 2 /15/2020 based on their new age.

Monthly: On the first of the month following the enrollee’ s birth anniversary. If the enrollee advances to a new age band, their new premium will be effective from the first of the month following the date of their birthday.

Example: An employee’s life policy is effective 1 / 1 /2020. The employee turned 30 on 2 /15/2020 and moves into a new 30–34 age band. If the life plan age redetermination setting is "monthly," we recalculate the life plan premium effective 3 / 1 /2020 based on their new age.

Quarterly: On the first day of the quarter, relative to the plan policy, following the enrollee’ s birth anniversary. If the enrollee advances to a new age band, their new premium will be effective from the first day of the quarter following the date of their birthday.

Example: An employee’s life policy is effective 2 / 1 /2020. The employee turned 30 on 2 /15/2020 and moves into a new 30–34 age band. If the life plan age redetermination setting is "quarterly," we recalculate the life plan premium effective 5 / 1 /2020 based on their new age.

Semi-annual: On the first day of the half-year, relative to the plan policy, following the enrollee's birth anniversary. If the enrollee advances to a new age band, their new premium will be effective from the first day of the half-year following the date of their birthday.

Example: An employee’s life policy is effective 2 / 1 /2020. The employee turned 30 on 2 /15/2020 and moves into a new 30–34 age band. If the life plan age redetermination setting is "semi-annual," we recalculate the life plan premium effective 8 / 1 /2020 based on their new age.

Annually: On the first day of the year, relative to the plan policy, following the enrollee's birth anniversary. If the enrollee advances to a new age band, their new premium will be effective from the first day of the policy year following the date of their birthday.

Example: An employee’s life policy is effective 2 / 1 /2020. The employee turned 30 on 2 /15/2020 and moves into a new 30–34 age band. If the life plan age redetermination setting is "annually," we recalculate the life plan premium effective 2 / 1 /2021 based on their new age.

January 1: On the first day of the calendar year following the enrollee's birth anniversary. If the enrollee advances to a new age band, their new premium will be effective from the first day of the calendar year following the date of their birthday.

Example: An employee’s life policy is effective 2 / 1 /2020. The employee turned 30 on 2 /15/2020 and moves into a new 30–34 age band. If the life plan age redetermination setting is "January 1," we recalculate the life plan premium effective 1 / 1 /2021 based on their new age.

No Redetermination: The plan has no redetermination setting. Premiums are not recalculated during the policy based on enrollees’ birth anniversaries.

Example: An employee’s life policy is effective 2 / 1 /2020. The employee turned 30 on 2 /15/2020 and moves into a new 30–34 age band. If the life plan age redetermination setting is "None," we will do nothing. The employee’s premium will remain the same until there is some other change; e.g., policy renewal with a rate change.

Unknown: Use this if you don’t know your plan’s age redetermination policy. We will use your carrier’s default redetermination setting instead. If we do not have a default setting on hand for your carrier, we will use “annually” as the age determination rule.

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