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You Get Married
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You Get Married
Getting married is considered a qualifying change in status and that allows you to adjust your participation in some of the Corporation's benefits when the change occurs. (Normally, you can change certain benefits coverage only once a year, during the annual enrollment period.) Most changes you make because of you marriage will be effective as of the date of your marriage, provided that you meet certain deadlines.
Bear in mind that you have only 31 days following the date of your marriage to submit changes for the medical, dental, vision, and flexible spending account coverage you have through the Corporation. If you miss this 31-day deadline, you must wait for the next annual enrollment period to change your coverage. To make changes, visit Employee Self-Service on The McGraw-Hill Companies intranet.
For certain other elective benefits for which you may be eligible—supplemental long-term disability, supplemental life insurance, and the 401(k) Savings and Profit Sharing Plan—you can change your coverage or participation at any time. Please be aware that some changes may require you to provide evidence of insurability before coverage can begin.
Note that, as with all qualifying changes, getting married allows you to make only changes that are consistent with your status change. For instance, you may cover your new spouse by switching from the "self only" to the "self plus one" coverage level. You may not, however, switch from one plan to another—for example, from the Account-based Option to the Traditional Option. If you are unsure of the change you may make, the plan-by-plan chart that follows should help.
Things to Do
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Review your healthcare coverage and decide whether you, your spouse, and any dependent children should be covered by the Corporation's medical options or by coverage available through your spouse's employer. Visit Employee Self-Service on The McGraw-Hill Companies intranet to start the enrollment process. Remember to do so within 31 days of your marriage.
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Ask Yourself: As a result of my marriage, do I have access to other coverage for myself or for other members of my family who could be covered under the Corporation's plans? Which coverage should I choose?
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Decide whether you want to adjust your participation in the Healthcare FSA, or whether to start contributing if you did not participate before your marriage. Keep in mind that you may use a Healthcare FSA to reimburse yourself for your spouse's eligible expenses even if he or she is not enrolled in the Corporation's healthcare options. Remember to make changes within 31 days of your marriage.
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Decide whether you want to adjust your participation in the Dependent Care FSA, or whether to start contributing if you did not participate before your marriage. Once you are married, your spouse must work, be disabled, or be a full-time student for you to use this account. In addition, if your spouse participates in his or her employer's Dependent Care FSA, federal laws may limit your contributions. Remember to make changes within 31 days of your marriage.
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Ask Yourself: How has my marriage changed my dependent care situation? Will my spouse provide care that I was previously paying for using a Dependent Care FSA?
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Consider whether you need some (or additional) life or accident insurance for yourself or any other family members.
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Review your retirement savings and investment strategy.
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Ask Yourself: Do I need to adjust my retirement savings and investment strategy, now that I'm married? What savings and retirement investment options does my spouse have available?
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Review your beneficiary designations and update them as necessary. Remember that your spouse automatically becomes your default beneficiary for all your Retirement Program benefits and you'll need to obtain your spouse's notarized consent to name someone else.
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Update your emergency contact information via Employee Self-Service on The McGraw-Hill Companies intranet, if necessary.
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Consider adjusting your income tax withholding. To submit a new W-4, access the form via Employee Self-Service on The McGraw-Hill Companies intranet.
Making Changes
After you've considered your options, if you decide to or need to change your benefits, you can do so via Employee Self-Service on The McGraw-Hill Companies intranet. If the change you are making is to your 401(k) savings participation or to the investment of your 401(k) Savings and Profit Sharing Plan investments, visit Your Benefits Resources or call 1-866-477-6820.
How This Event Affects…
Medical, Dental, and Vision Coverage
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Enroll your spouse and/or new dependent children for coverage within 31 days of your marriage. Remember that you can change your coverage only within your current plan (for example, go from the "self only" coverage level to the "self plus one" coverage level within your current medical option).
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Drop the Corporation's coverage if you prefer to be covered under your spouse's employer's plan.
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Begin or stop participation, or make changes in the amount you contribute, within 31 days of your marriage.
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Learn about participation limits for married couples.
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Your coverage under the short-term and basic long-term disability (LTD) plans continues unchanged.
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Review your supplemental LTD participation. Keep in mind, you need to provide evidence of insurability to enroll in this coverage.
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Employee Life and Accident Insurance
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Your coverage under the employee basic life insurance and travel accident insurance plans continues unchanged.
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Begin participation or change your coverage options under the supplemental life insurance and accidental death and dismemberment insurance plans. Keep in mind, certain supplemental life insurance changes require you to provide evidence of insurability.
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Review and update your beneficiary designations as needed. Note that if you do not update your beneficiary designations and you die, the benefits will be paid to the beneficiary on record—your new spouse does not automatically become your beneficiary for your life and accident insurance coverage.
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Dependent Life and Accident Insurance
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Property/Casualty Insurance
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Review your auto, homeowner's, renter's, and other property/casualty insurance needs, and evaluate the METPAY coverage options.
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Be aware that your new spouse automatically becomes your beneficiary when you get married, regardless of any prior beneficiary designations you have made, unless you obtain his or her notarized consent to name someone else.
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Review your participation in the 401(k) Savings and Profit Sharing Plan to determine if you need to make any adjustments to your savings and investment strategy.
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