Definition Definition

Family status change

Family status change used to define changes to an individuals existing family standing. Typically found in health care benefit plans covered by section 125 of the Internal Revenue Code.

IRC 125, does not allow individuals enrolled in a covered benefit plan to make election changes to their existing benefits coverage outside of the plans annual open enrollment period, unless a qualifying change in family or employment status, defined by the IRS as a "Qualified Family Status Change" has occurred (i.e. marriage, divorce, legal separation, death, birth/adoption, changes in employment status, cessation of dependent status, or a significant change in cost or reduction of benefits.)

Share it: CITE

Related Definitions