Watching your newly adopted child grow and thrive is exciting! But amid the first steps, loose teeth, and watching them graduate, there are the less-exciting moments, like adding them to your benefits plan.
The adoption process was complicated enough, so let us help you make adding your adopted child to your benefits easy. 4 things to keep in mind:
1. Adopted children are entitled to benefits.
Adopted children fall under the same criteria as all qualifying dependents when it comes to being covered and adding them is a similar process.
2. You have 30 days to enroll.
As long as you enroll your child within 30 days of adoption or placement for adoption, coverage should be effective immediately. Remember: Adoption is considered a qualifying event, so your child can be added to your plan outside of open enrollment.
3. Expect a change in cost.
Adding your new child as a dependent can potentially increase your rates and change your deductible and premium. If you’re covered through your employer, you may notice a slight difference in your paycheck.
4. Your child may be subject to a waiting period.
A waiting period is how long you or your dependent must be enrolled before full coverage comes into play. Depending on your plan design, your new child may be subjected to a waiting period. Contact your insurance carrier to learn these plan details so there are no surprises.