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Three Big Changes

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Open enrollment is here! Annual enrollment for 2024 benefits will take place from Sunday, Oct. 1 through Friday, Oct. 13.

What is Open Enrollment?

Open enrollment is a time to choose insurance benefits or make changes to current election benefits for 2024. There are a few big changes happening, and we want to make sure you have access to important information to make the best decision for you and your family.

Three Big Changed

  1. Life Insurance

  • Life insurance benefits are changing. Dependent basic term life/basic accidental death and dismemberment (AD&D) insurance coverage is ending. You may be able to enroll your dependents in voluntary term life insurance and/ or voluntary AD&D. There are also changes to voluntary term life insurance options for employees and dependents. Go to the Additional Benefits section for details.
  • New in 2024 – Basic term life/ basic AD&D insurance. The state will pay 100% of the premiums for employee basic term life/basic AD&D insurance.
  • New in 2024 – Basic term life. Designated beneficiaries will receive 1X the employee’s base annual salary rounded to the next highest thousand ($50K minimum/$250K maximum, except when reduced at age milestones). Employees may opt to decrease coverage to $50,000 to avoid imputed income, as outlined in IRS publication 15B.
  • Basic AD&D: Employee coverage will be 1X basic term life insurance coverage. Basic term life/basic AD&D coverage amounts decrease at ages 65 and over.
  • Important! Dependent basic term life/basic AD&D coverage will end after Dec. 31, 2023. Employees may be able to enroll your dependents in voluntary term life and/or voluntary AD&D insurance. See voluntary term life and voluntary AD&D sections for more information.
  • Spouses losing the $3,000 of basic term life coverage can choose to enroll for voluntary spouse term life in the amount of $5,000 without answering health questions (guaranteed issue). Voluntary child term life insurance in the amount of $5,000 or $10,000 can also be added to an employee or spouse’s voluntary term life certificate without answering health questions.
  • Employees enrolled in voluntary AD&D insurance can add dependent coverage.

  1. Long Term Disability

  • Long-term disability: Replaces a percentage of your income during a disability that is expected to last longer than 90-180 days.
  • New in 2024 – The state will pay 100% of the premiums for long-term disability insurance for state and higher education employees. Employees who use this benefit will receive 63% of their monthly salary*, up to 10K per month, following a 90-day waiting period. *The maximum covered monthly salary is $15,873.02.
  • All eligible employees will automatically be defaulted into LTD option 3 in Edison for coverage effective on Jan. 1, 2024. This is guaranteed issue coverage and employees won’t have to answer medical questions.
  • Coverage cannot be waived because it is 100% employer paid.
  • LTD coverage options 1, 2 and 4 are also available, but employees are responsible for 100% of the premium.
  • More details for employees who are currently off work on an LTD claim, what happens if you file a claim in 2024, tax implications and how time enrolled in current state or higher education LTD plans apply are available on the Disability webpage.
  • Disability insurance premiums adjust as of Oct. 1 if your salary is greater on Sept. 1 compared to the prior Sept. 1.

  1. Dental

  • Cigna Dental HMO rates are increasing by 2.5%. You must use a network dentist to receive benefits under this plan.
  • Delta Dental PPO rates are increasing by 1%. You can use any dentist but you will receive maximum benefits when visiting an in-network dentist.
  • New for 2024 – The state will pay 50% of the dental premiums for either plan you select.