When can I cancel my coverage?

Here's a list of valid reasons for canceling your insurance coverage outside of Open Enrollment.

  • You just got married.
  • You've just finalized a divorce.
  • You just had a baby, or adopted a child.
  • Your spouse got a new job.
  • Your spouse's coverage has changed.
  • It's currently your spouse's Open Enrollment period.
  • You're entitled to Medicare and/or Medicaid.
  • You're taking FMLA leave.
  • You're relocating outside of my coverage network.
  • You're eligible to enroll in marketplace insurance.
  • You're part of a federally recognized tribe.

Why can't I just cancel my coverage?

Per Section 125 regulations, subscribers may not alter their plan selections mid-year without a valid qualifying life event.  Even though your insurance carrier does not require any documentation to cancel your coverage, your company administrator may follow-up with you directly to verify the event.

" 4 .5 Irrevocability of Elections
Unless an exception provided under this Article IV applies, a Participant's election for a particular Plan Year is irrevocable and the Participant may not change any elections for the duration of the Period of Coverage regarding:
(a) Participation in this Plan;
(b) Salary Reduction amounts; or
(c) Election of Benefits.

Such language tracks the irrevocability rule (https ://www. law .cornell.edu/cfr/ text /26 / 1 .125-4) of Section 125

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