Benefits can be tricky — let's simplify it for you
Enrolling in benefits for the first time can be intimidating, but it doesn’t have to be. Taking time to learn the terminology and how different plans work will take the guesswork out of enrolling in health coverage and other benefits. Make your elections confidently.
Under the ACA, you can stay on your parent’s healthcare plan until you turn 26, regardless of whether you live with them. Depending on your parent’s plan, you may lose healthcare coverage on your 26th birthday. Some plans allow young adults to stay on their parent’s plan throughout the end of the plan year, and others drop coverage on the day they turn 26. Since all plans are different, it’s important to plan ahead to ensure that when the time comes you are covered.
Turning 26 is considered a qualifying life event and you’ll be eligible to enroll mid-year in Proofpoint’s benefits. You’ll have 31 days from your birthday to enroll. If you do not enroll during this period, you will have to wait until the next Open Enrollment period held in the fall.
Visit Workday to make changes or enroll in benefits within 31 days of your 26th birthday.
Here are some important insurance terms you should know
Before you dive into your health plan options, it’s important to understand the terminology used in health plan details. Below are some important definitions to know when reading through plan details.
Do you prefer certain doctors or hospitals?
If you want to stay with your favorite doctors, you will need to make sure they are in a plan’s network. You can find out by visiting the plan’s website, calling the insurance carrier, or even checking with your doctor’s office to see if they accept a particular insurance plan. If your preferred doctors are not in-network and you’re comfortable paying a bit more to see them, you may want to consider a PPO or CDHP style plan.
- If you choose one of our Kaiser plan options, there is no coverage outside of the Kaiser network except in an emergency.
- If you choose one of our Cigna plan options, our search the Cigna Open Access Plus network to find an in-network doctor or facility.
What are your usual healthcare needs?
- Do you visit a chiropractor or get acupuncture?
- Do you have frequent doctor or urgent care visits?
- Do you have a condition that requires the care of a specialist?
- Do you take prescription medications?
Look at your benefits materials and plan documents to compare how each plan covers the services you need often.
Consider the bottom line
- How much is your share of the monthly premium?
- Do you have to meet a deductible before the plan will pay?
- Can you offset expenses with a tax-free account such as an HSA or FSA?
Each of these factors can affect your true cost of healthcare. The lowest premium plan may not be the least expensive plan for you, and conversely, the highest-cost plan is not always the “best” plan for your needs.
Other benefits to learn about
Benefits aren’t limited to just health insurance – be sure to check out what else we offer to our employees. From saving you money on transit costs, to mental health counseling, Proofpoint employees have access to a variety of different benefits.
You are automatically enrolled in
- Company-paid Life and AD&D
- Business Travel Accident (BTA)
- Short-term Disability
- Long-term Disability
*You will need to log in to your Fidelity account to change your contribution rate.
Our dedicated Benefit Advocate is here to help. They can help you with a variety of problems and issues, answer any questions you may have, and point you in the right direction if you’re not sure what to do or where to go.