Pre-Tax Basic Life and Health Insurance Plan Election Not to Participate Form - The Commonwealth deducts the state employee's share of basic life and health insurance premiums on a pre-tax basis, unless an employee opts out of this option. By deducting on a pre-tax basis, the net result is a slight increase in your paycheck. During Annual Enrollment , or when you have a qualifying event, you have the opportunity to change the tax status of your premiums. If your deductions are now taken on a pre-tax basis, you may elect to have them taxed effective July 1. If you previously chose not to take the pre-tax option, you may switch to a pre-tax basis effective July 1.
To opt out of pre-tax deductions, complete the Pre-tax Basic Life and Health Insurance Plan Election Not to Participate Form and give it to your Payroll Coordinator. If you previously elected NOT to participate in Pre-tax deductions, see your Payroll Coordinator to elect pre-tax deductions. There are no forms to complete. Qualifying events to elect in or out of pre-tax deductions must comply with Federal IRS regulations and definitions. These include: marriage or divorce, birth or adoption of a child, death of spouse or dependent, spouse commences or is terminated from employment, or employee or spouse takes unpaid leave of absence. For Pretax questions, contact your payroll department.
This information provided by the Group Insurance Commission .