Becoming a Parent :: MPTN Advantage

Becoming a Parent
Benefit	What You Should Know
Medical and Prescription Drug Coverage	If you want to enroll your new child, you must do so within 30 days of the birth or placement for adoption. Coverage will be retroactive to the date of the birth or placement for adoption. You must provide long form birth certificate and social security number. If you don’t make changes within 30 days, you must wait to do so until the next annual enrollment, until another qualified change in status or until the loss of other employer-provided coverage.
Dental and Vision Coverage	Same as Medical, above.
Health Care Flexible Spending Account (FSA)	If you are already enrolled, your participation continues. You can enroll, increase, decrease or stop your contributions within 30 days of the birth or placement for adoption. If you don’t enroll or make changes within 30 days, you must wait to do so until the next annual enrollment, until another qualified change in status or until the loss of other employer-provided coverage.
Dependent Care Flexible Spending Account (FSA)	Same as Health Care FSA, above.
Short-Term Disability	Your current coverage continues. You can enroll if you are not already enrolled.
Long-Term Disability — Basic Coverage	Your coverage is unaffected.
Long-Term Disability — Buy-Up Option	Your current coverage continues. You can enroll if you are not already enrolled.
Basic Life Insurance	Your coverage is unaffected. Consider updating your beneficiary designations.
Supplemental Life Insurance	Your coverage continues. You can purchase coverage for yourself if you have not already done so,subject to insurance company approval. You can increase coverage for yourself subject to insurance company approval. You can purchase additional coverage for your new child, subject to insurance company approval. Consider updating your beneficiary designations.
401(k) Plan	If you are eligible to join the plan, you can enroll at anytime. (See “Joining MPTN” within this section.) If you are enrolled in the plan already, you might consider increasing your contribution rate, which can be done on a daily basis. You might want to re-evaluate your investment mix. The plan allows you to change your investment directions daily for both your future contributions and your accumulated savings. You might want to review your beneficiary designations to consider your new child. If you are considering the purchase of a home, the plan’s loan feature lets you borrow against your account balance, subject to certain maximum/minimum limitations.