New Addition to the Family Life Event

NEW ADDITION TO THE FAMILY

CONGRATULATIONS! Bringing a new child into your home is an exciting event. But mixed with that joy may be some uncertainty, especially if it’s your first child. Questions abound. Here are a few ideas that may help.

THINGS TO CONSIDER

Now…

• Children with health concerns may be eligible for $3,000 of Supplemental Group Term Life (SGTL) insurance. Enroll your child within 60 days of birth/adoption.

• When your child is six months old, you may apply for additional life insurance through Deseret Mutual. Your child will need to meet certain health standards to be approved.

Down the Road…

Checklist
Add your child to your health and life insurance within 60 days of birth, adoption, or court-ordered placement

If an adoption, provide us a copy of the adoption placement certificate

Obtain a Social Security number for your child

Update your beneficiary designations using our Web site.

Update the number of exemptions on your IRS W-4 form, available through your employer. The “W-4 Assistant” in the Savings area of our Web site may be helpful.

Adjust your Flexible Spending Account (FSA) within 60 days of the birth/adoption

• Immunizations:

Each year, the Advisory Committee on Immunization Practices (ACIP) and the American Academy of Pediatrics (AAP) issue a recommended schedule for childhood immunizations. Your baby’s doctor may follow these guidelines or suggest a modified schedule as needed. Follow your doctor’s recommendations and keep an immunization schedule on your refrigerator or other visible location as a reminder. The first immunization (Hepatitis B) is usually given before your baby is discharged from the hospital. If recommended, your baby should receive a second dose at two months.

• Childproof Your Home:

Place a protective gate in front of any stairs

Cover electrical outlets

Use childproof locks on lower cabinets

Store medications and cleaners out of reach

• Emergency Numbers: Keep numbers for the following next to your phone:

Pediatrician

OB/GYN

Police

Fire

Poison Control

Neighbor

FREQUENTLY ASKED QUESTION

Q. How do I add my child to my insurance?

A. The easiest way is to simply give us a call. You can also enroll your child online through our Web site or download and complete an enrollment form and mail it in to us. However, if adding a child changes your insurance premium (i.e. going from two-party to family coverage), you will need to enroll online or fill out a form.

Q. Do I have to wait until the adoption is finalized to add my child to my insurance?

A. No. With the appropriate legal documentation, you can add your adopted son or daughter to your insurance as of the day he/she is placed in your home for the purpose of adoption. To do so, you must have legal custody.

Q. What will it cost to add my child to my insurance?

A. Premium rate information can be found on our Web site by going to Your Benefits area and clicking on Handbooks, then clicking on Medical Plan Comparisons. You can also call us for the information.

Q. Is my baby covered for routine well-child care?

A. Yes. Take your baby to the doctor for routine check ups as often as is medically necessary or as recommended by your child’s pediatrician.

Q. Does Deseret Mutual cover adoption expenses?

A. In the past, Deseret Mutual reimbursed participants for adoption-related expenses. However, in 2001, Congress passed the Economic Growth and Tax Relief Reconciliation Act that allows parents to deduct up to $10,000 (of reported income) for adoption expenses. Deseret Mutual discontinued its program once this new tax credit became available.

Q. How do I change my FSA election?

A. Federal law requires that we review all mid-year changes in the FSA program. To make a mid-year change, go to the Flex Benefits area of our Web site and click on Forms Library. Download the FSA Change in Family Status form, fill it out, and mail it in to us within 60 days of the birth/adoption.

Q. I’m not enrolled in the FSA program. Can I sign up now?

A. Yes, as long as you enroll within 60 days of the birth/adoption. When estimating your out-of-pocket expenses for the year, you can include any eligible costs that you incur from the date of the change (e.g. birth) through the end of the year.

Q. I’m not enrolled in Deseret Mutual’s health insurance. Can I sign up now?

A. Yes. Having a baby is considered a change in family status. That means you can sign up for health insurance without having to wait until Open Enrollment. Make sure you (and any eligible dependents) enroll within 60 days of birth/adoption.

This information is provided as a service to help you make informed decisions. Nothing in this information should be considered legal, financial, investment, or medical advise. For a complete description of the plans. please refer to your Benefits Handbook. As with any major life event, you should consult with qualified prefessionals of your choice who can provide you with appropriate counsel and advise.