What you need to know
Generally, you can only change your benefit elections during Open Enrollment. But every once in a while, life intervenes. You get married or add a child to your family. So we also give you the option of changing your benefit elections when you experience a qualified life event. Be sure to submit your benefit elections in Workday within 30 days of the life event.
What is a qualified life event?
Qualifying life events and the eligible changes are determined by the federal government and the benefit plan policies. Please refer to the benefit plan policies and governing plan documents for additional details on the allowed changes including additional enrollment rules, coverage exclusions and limitations.
Some examples of qualified life events include:
- You have a baby, adopt, or there’s a change in legal custody of a child
- You get married, divorced, or there’s a change in your domestic partner relationship
- Your spouse or dependent dies
- You, your spouse or your dependent has a change in employment status resulting in a loss or gain of eligible for coverage. For example, one of you:
- Begins or ends employment
- Takes or returns from an unpaid leave
- Switches from full-time or part-time employment (or vice versa)
- Your child dependent turns age 26
- You, your spouse or your dependent moves outside of the covered service area
Some changes will require documentation to support the life event you experienced. Changes to your healthcare and voluntary benefits take effect on the date of your life event. Changes to FSAs, HSA, and Commuter benefits take effect the first of the month following the date you submit your elections in Workday. Or, if you submit your elections on the 1st of the month, they take effect then.
The changes you make to your benefits must be consistent with the life event you experienced. For example, if you have a baby you may only add that baby and other eligible dependents to your healthcare (not remove), or elect/increase your FSA election (not waive or decrease).
How to make changes
To make changes to your benefits, be sure to submit your benefit elections in Workday within 30 days of the life event.
New hires: Check your Workday Inbox for your benefit enrollment task.
Qualified life events: From your Workday homepage, select the Benefits icon then select “Benefits” under “Change.” Pick your life event and list the date your life event occurred. Upload your documentation, make your election changes, and then submit.
We know you don’t even want to think about it, but there may come a time when you leave Splunk. It’s important to know what happens to your coverage when that happens. In some cases, you’ll have the option to continue or convert your coverage.
When coverage ends
Medical, dental and vision: Coverage ends at the end of the month in which your employment terminates.
Flexible Spending Accounts (FSAs): Coverage ends on your last day of employment. Any unused payroll contributions are forfeited if not claimed by 90 days after the end of the plan year. Eligible expenses must have been incurred by your last day with Splunk.
Health Savings Account (HSA): Payroll contributions stop after your last day of employment. Your HSA is owned by you, and you can use the funds contributed after you leave Splunk. You will be charged a monthly admin fee by the vendor to keep the account open. You may roll your funds into another HSA account.
Commuter transit and parking: Coverage ends on your last day of employment. Any unused payroll contributions are forfeited if not claimed within 180 days of your last day with Splunk. Eligible expenses must have been incurred by your last day with Splunk.
Voluntary Benefits, Life/AD&D Insurance, Disability: Coverage ends on the last day you perform your regular work duties. You have options to continue your life/AD&D insurance or convert it to an individual policy.
Make sure your contact information is up to date before you leave!
Applying for health coverage under COBRA
COBRA is a federal law that entitles you and your eligible family members to extend your health care coverage for up to 18 months.
5 things to know about COBRA
- WEX Benefits administers COBRA for Splunk.
- Under COBRA, you can continue coverage for medical, dental, vision, the Health Care FSA, Modern Health mental health/EAP.
- If you’re eligible for COBRA, you’ll receive a letter at your address listed in Workday. This letter is typically mailed within two weeks of your coverage termination.
- You pay 100% of the premium plus a 2% administrative fee. Monthly premiums and fees must be paid in full before your COBRA coverage begins. Coverage will begin retroactively back to your COBRA eligibility date if paid timely.
- You must enroll in COBRA coverage through WEX within 60 days of receiving your election notice or the date you lose coverage, whichever is later.
Health insurance exchanges
Health insurance exchanges, otherwise known as the health insurance marketplace, provide a place to shop for affordable health insurance that meets the requirements of the Affordable Care Act (ACA). Find out more about the exchanges.
WEX will also include health insurance exchange information through the marketplace in your COBRA enrollment packet.
Continuing other coverage
Life insurance/accidental death and dismemberment (AD&D): When you leave Splunk, you’ll have the opportunity to port or convert your life insurance. Prudential will mail you instructions on porting or converting your coverage.