After graduation, does my child remain a qualifying dependent for the Health Care Reimbursement Account?
For the graduated child to be considered an eligible dependent, you must provide more than one-half of the child’s total support for the calendar year. If this is no longer the case, then you can change the amount contributed to the health care reimbursement account. You must do so within 30 days from the date of the change in family status. Contact the HRIC to make contribution changes. For more information, please see the Reimbursement Accounts web site. Can I maintain life insurance coverage for my graduated child? Upon graduation, your child becomes an ineligible dependent under your existing life insurance. To maintain a level of life insurance coverage for the graduated child, you will need to consider conversion policies. Your options differ among the various life insurance policies as follows: • Supplemental Life Insurance • Within 90 days of graduation, the child may convert the $10,000 dependent child’s coverage to an adult Supplemental Life Insurance policy with $10,000 to $
Related Questions
- Can I use the Employee Reimbursement Account program to pay for the dependent care of my domestic partner’s dependent child?
- Can I use contributions from my Health Care Reimbursement Account to pay for charges incurred by my child or spouse?
- Can I make changes to my health care or dependent day care reimbursement account?
