Annual Option Period
Option Period is the annual enrollment period when employees can make benefit plan elections for the upcoming plan year.
During Option Period, employees can make the following changes for themselves and their dependents:
- Add coverage
- Discontinue coverage
- Change plans
The dates of the annual Option Period change each year. Option Period is during the fall, usually from October and into early November. Option Period for web enrollment is available in late September through mid-November.
As the Insurance Coordinator, you can enforce your own deadline for Option Period to make sure that you have enough time to handle the paperwork before the OSEEGIB deadline.
Option Period changes are effective January 1 of the following plan year. One exception may be if a member is enrolling in or increasing the amount of Life Insurance coverage; the Life Insurance Application could be delayed for additional information. If this occurs, the effective date of the life insurance will be the first day of the month following approval of the application.
Resources available during Option Period include:
- The Insurance Coordinator web page
- The Employee Benefit Options Guide
- Plan websites
- IC Information CD and online
- Employee Benefit Power Point Presentation
- IC Option Period meetings
- Provider Directories
- Web User’s Option Period Newsletter
- OSEEGIB Member Services
- Customer service telephone numbers
If you have questions during Option Period, OSEEGIB Member Services is available by phone or for on-site assistance. Please call call 1-405-717-8780 or toll-free 1-800-752-9475 to talk to your Member Services Representative.
Prior to Option Period, OSEEGIB Member Services offers training seminars for IC’s. You are strongly encouraged to attend training to get the most up-to-date information.