Are you excited to receive health benefits as a Lockheed Martin employee but not sure when you can sign up? We’ll clear this up by discussing open enrollment and define qualifying life events.

You are automatically eligible to participate in the health plan as an employee of Lockheed Martin on the first day of work. You can enroll yourself and your qualified dependents via phone with the LMESC or online within 30 days of your hire day.  Should you miss this initial enrollment period, you will have to either wait until open enrollment or experience a qualifying life event, whichever comes first. Open enrollment is an annual allotted timeframe each fall that allows employees to enroll in coverage. You will receive detailed enrollment instructions before each enrollment period. 2020 enrollment dates have not yet been published, but you can check back here to see the dates once published.

The other method of enrollment is within 30 days of a qualifying life event occurring. A qualifying life event, also known as a qualified status change, is an event specified under Internal Revenue Service guidelines that permits you to change certain benefit plan elections at a time other than during their annual enrollment period. Examples of a qualifying life event include:

  • Marriage or start of a domestic partnership
  • Birth of a child
  • Divorce or ending of domestic partnership
  • Relocation
  • Change in job status
  • Loss of dependent eligibility.
  • Death of eligible dependent

To report a qualifying life event, you can call the Employee Service Center at 1 (866) 562-2363 or visit the website within 30 days of the event. For frequently asked questions regarding enrollment, please visit the LM HealthWorks link. Interested in learning more about Lockheed Martin benefits? Then don’t hesitate and book a complimentary meeting with one of our Lockheed Martin retirement specialists.

For more tips like these, click here to sign up for our weekly email blog newsletter. If you would like to get better educated on Lockheed retirement strategies, click here to download our Free Report titled Retire with Confidence: The Top 4 Things You Can Do Now to Maximize your Lockheed Retirement. And, if you want to have face time with a Lockheed Retirement Specialist², you can click here to schedule an appointmentclick here to sign up for our Lockheed Retirement Workshop or click here to just give us a call (817) 210-3444.

Be sure and check back next week for more incredibly valuable information. Cheers!

Disclosures*

Financial Planning and Investment Advisory offered by SWMG, LLC a Registered Investment Advisor.

Lockheed Martin Retirement Specialist is not an official title or professional designation nor is it conferred by Lockheed Martin on any individual or company.

Our Complementary consultation and free report are for informational purposes only and provided free without any obligation to utilize or retain our investment advisory services.

SMWG, LLC is not affiliated with or endorsed by Lockheed Martin Corporation. Our expertise comes from working with LMT employees for several years and helping them to retire with confidence.

Investing involves the risk of loss, including loss of principal. Past performance does not guarantee future results. Investment products are not FDIC insured, have no bank guarantee, and may gain or lose value. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will be profitable for a client’s investment portfolio.

iHeart Radio Ask The Experts