Considerations for Using the Change Beneficiaries Page

You need to remember these key points when you enable participants to use the Change Beneficiaries page.

• If participants have enrolled in benefits that allow beneficiary designations, they can change beneficiary details even if there isn't an enrollment window open. In other words, they can update beneficiary designations for the latest processed life event.
• Participants can change the percentage of allocation for existing beneficiaries, remove a primary or contingent beneficiary, and adjust the allocation percentage.
• Participants can designate new contacts. But they can do this only if they added the contacts before the latest processed life event date. For example, participant A added a dependent contact on Apr 1, 2022. You process a life event on Apr 5, 2022. The participant makes some elections, but forgets to designate the dependent contact. The enrollment window closes on Apr 7, 2022. The participant can still use the Change Beneficiaries page to designate the dependent. However, if the participant adds a contact after Apr 7, 2022, they won't see the contact in the Change Beneficiaries page.
• All new designations start from the coverage start date of the plan.
• As these beneficiary changes happen outside of the enrollment window, the application doesn't generate any beneficiary-related pending actions. If an enrollment had generated a pending action to designate beneficiaries, the action will automatically close when participants complete their designations.