Changing Your Benefits

Open Enrollment occurs in the fall of each year and allows you to choose your benefits for the following calendar year.

Your benefits team at Green Mountain Higher Education Consortium (GMHEC) will communicate with you about the Open Enrollment period and your options each year.

It is each employee’s responsibility to review the information and their benefit elections during Open Enrollment within Oracle as well as validate enrollments and payroll deductions at the beginning of each calendar year.

Qualifying Life Events (QLE) must be reported to your benefits team within 30 days of the event. Examples of qualifying status change include the following:

• Birth or adoption/placement for adoption of a child
• Change in marital status, such as marriage or divorce
• Change/loss of other coverage, such as coverage under a spouse’s employment
• Change in Dr. Dynasaur (CHIP)/Medicaid/Medical Assistance coverage
• Change in Medicare eligibility
• Change in a child’s dependent status
• Death of a dependent

Please note: This list is not exhaustive, please reach out to Your Benefits Team with questions.

Employees experiencing a qualifying life event may input the event and supporting documentation in Oracle by navigating to Benefits. Reach out to your benefits team with questions or 802-443-5485.

If you are enrolled in and have an HSA Account with HealthEquity (by participating in the Silver or Bronze medical plans) you have the ability to make changes to your payroll contributions throughout the year.

• The IRS sets the annual dollar maximum that can be made to an HSA. People who are age 55 or older can make additional catch-up contributions.
• You may change your bi-weekly contributions, up to the annual IRS limits, at any time throughout the year by emailing benefits@gmhec.org with the details of the change you wish to make to your contributions.

Naming a beneficiary for your life insurance, retirement savings, and Health Savings Account determines who will receive your policy benefits if you were to pass away. You can change your beneficiary designations at any time. Below are links to instructions to change your beneficiaries.

• Health Savings Account – HealthEquity Portal
  • For questions regarding your HealthEquity Account, please call 866-346-5800
• Life Insurance – Oracle
• Retirement Savings – TIAA Portal
  • TIAA also has this resource for you: Beneficiary Resource Center
  • For questions about your TIAA account please call 800-842-2252.

Contact Your Benefits Team at Green Mountain Higher Education Consortium (GMHEC) at benefits@gmhec.org or 802-443-5485 if you have questions about your beneficiaries. benefits@gmhec.org