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You Get Divorced or Legally Separated
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You Get Divorced or Legally Separated
Getting divorced or legally separating from your spouse is considered a qualifying change in status, which 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 your divorce or legal separation will be effective as of the last day of the month in which your divorce or legal separation occurs, provided that you meet certain deadlines. (If you are canceling coverage for your spouse, your spouse's coverage will end on the last day of the month in which you cancel the coverage.)
Bear in mind that you have only 31 days following the date that your divorce or legal separation is finalized to submit changes for your healthcare coverage and flexible spending account participation. If you miss the 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 benefits—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 change may require you to provide evidence of insurability before coverage can begin.
Note that, as with all qualifying changes, getting divorced or legally separated allows you to make only changes that are consistent with your status change. For instance, you may remove your former spouse from your medical coverage by switching to self-only coverage. You may not, however, switch from one medical option to another—for example, from the Account-based Option to the Traditional Option.
Ending a Domestic Partnership
The Corporation treats separation from a domestic partner the same as a qualifying change in status because of divorce or legal separation. Qualifying changes in status because of divorce or legal separation give you the opportunity to change your healthcare coverage and FSA participation during the year, rather than waiting until the annual enrollment period.
Things to Do
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Be sure to make all changes to your medical, dental, vision, and FSA elections within 31 days of your divorce or legal separation.
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Review your healthcare coverage, and determine what changes, if any, you need to make. Visit Employee Self-Service on The McGraw-Hill Companies intranet within 31 days of your divorce or separation to start the change process.
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If you were covered by plans available through your former spouse's employer, decide whether you now want to be covered by the Corporation's plans.
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The Corporation's coverage for your spouse ends on the last day of the month in which your divorce or legal separation is finalized. Your former spouse and/or dependent children may continue coverage through COBRA. (Former domestic partners are eligible for coverage equivalent to that offered under COBRA.)
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If you have dependent children, determine whether they will be covered by the Corporation's coverage or by your former spouse's employer's coverage.
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Your dependent children may have court-ordered rights to healthcare coverage provided by you. If so, notify the HRSC so that the order can be handled properly.
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Review your participation in the Healthcare Flexible Spending Account (FSA). Keep in mind that you may use The McGraw-Hill Companies Healthcare FSA to reimburse yourself for the eligible expenses of dependent children even if they do not live with you, if you are legally required to pay their healthcare expenses. You may not use the account to reimburse yourself for healthcare expenses incurred by your former spouse.
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Review your participation in the Dependent Care FSA. Once you are divorced or legally separated, limits on married couples' contributions no longer apply, and you may want to adjust your contributions.
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Update your emergency contact information in Employee Self-Service on The McGraw-Hill Companies intranet.
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Review your beneficiary designations and update them as necessary. Remember that your spouse was automatically your beneficiary for all your Retirement Program benefits unless you had obtained his or her notarized consent to name someone else. If you have submitted a beneficiary designation form naming your spouse and you later divorce, your former spouse will continue as your beneficiary until you name someone else or remarry. Also, please note that if you named your spouse as your life insurance beneficiary and do not name another beneficiary when you divorce, your former spouse will remain your beneficiary.
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Your former spouse may have certain court-ordered rights to your Retirement Program benefits. If so, notify The McGraw-Hill Retirement Center at 1-866-477-6820 so the order can be handled properly.
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Determine if you need to revise your W-4, to change your income tax withholding. If so, access the electronic form via Employee Self-Service on The McGraw-Hill Companies intranet.
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Consider speaking to one of the counselors at the Employee Assistance Program. You can contact the Employee Assistance Program (EAP) at 1-800-544-8320, 24 hours a day, seven days a week.
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 yourself and/or your dependent children for coverage within 31 days of the date your divorce or legal separation is finalized. Remember that you can change your coverage only within your current plan (for example, go from the "self plus one" to the "self only" coverage level within your current medical option).
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Cancel coverage for your former spouse. His or her coverage ends on the last day of the month in which your divorce or legal separation is finalized. Your former spouse and/or dependent children may continue coverage through COBRA.
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Your dependent children may have court-ordered rights to healthcare coverage provided by you.
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Begin or stop participation, or make changes in the amount you contribute, within 31 days of the date your divorce or legal separation is finalized.
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You may use The McGraw-Hill Companies Healthcare FSA to reimburse yourself for the eligible expenses of dependent children even if they do not live with you, if you are legally required to pay their healthcare expenses.
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You may not use The McGraw-Hill Companies Healthcare FSA to reimburse yourself for your former spouse's expenses incurred after your divorce is final.
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Begin or stop participation, or make changes in the amount you contribute within 31 days of the date your divorce or legal separation is finalized.
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Once you are divorced or legally separated, limits on married couples' contributions no longer apply, and you may want to adjust your contributions.
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Employee Life and Accident Insurance
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Update your beneficiary designations. If you have named your spouse as your beneficiary and do not name a new beneficiary when you get divorced, your former spouse will continue as your beneficiary, and will receive any benefits payable in case of your death.
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Dependent Life and Accident Insurance
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Review your beneficiary designations and update them as necessary. Remember that your former spouse was automatically your beneficiary for all your Retirement Program benefits unless you had obtained his or her notarized consent to name someone else. If you have designated your spouse as your beneficiary, he or she will continue as your beneficiary until you name someone else or remarry.
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Your former spouse may have certain court-ordered rights to your Retirement Program benefits.
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Review your participation in the 401(k) Savings and Profit Sharing Plan. Determine if you need to make any adjustments to your savings and investment strategy.
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