Are you excited to receive health benefits as a Lockheed Martin employee but not sure when you can sign up? We’ll clear this up by discussing open enrollment and defining qualifying life events.
You are automatically eligible to participate in the health plan as an employee of Lockheed Martin on the first day of work. You can enroll yourself and your qualified dependents via phone with the LMESC or online within 30 days of your hire day. Should you miss this initial enrollment period, you will have to either wait until open enrollment or experience a qualifying life event, whichever comes first. Open enrollment is an annual allotted timeframe each fall that allows employees to enroll in coverage. You will receive detailed enrollment instructions before each enrollment period. 2020 enrollment dates have not yet been published, but you can check back here to see the dates once published.
The other method of enrollment is within 30 days of a qualifying life event occurring. A qualifying life event, also known as a qualified status change, is an event specified under Internal Revenue Service guidelines that permits you to change certain benefit plan elections at a time other than during their annual enrollment period. Examples of a qualifying life event include:
- Marriage or start of a domestic partnership
- Birth of a child
- Divorce or ending of domestic partnership
- Relocation
- Change in job status
- Loss of dependent eligibility.
- Death of eligible dependent
To report a qualifying life event, you can call the Employee Service Center at 1 (866) 562-2363 or visit the website within 30 days of the event. For frequently asked questions regarding enrollment, please visit the LM HealthWorks link. Interested in learning more about Lockheed Martin benefits? Then don’t hesitate and book a complimentary meeting with one of our Lockheed Martin retirement specialists.
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Be sure and check back next week for more valuable Lockheed Martin information. Cheers!