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Principal's 2020 Open Enrollment Enhancements

Principal has made some enhancements to their open enrollment guidelines.


Dental and Managed Care Vision Open Enrollment January 1, 2020

Members and dependents can now get coverage during the open enrollment period with full benefits—even if they were previously enrolled in the coverage, but then waived the coverage. Existing groups will have their first open enrollment period with their 2020 policy anniversary. There will not be a bulk special enrollment period on 1/1/20 for existing cases.


If members and dependents don’t enroll within 31 days of being eligible or with a qualifying event, their only opportunity to enroll will be during the group’s open enrollment period – which occurs 30 days prior to their policy anniversary.



Any member or dependent currently in a benefit waiting period for dental or vision coverage will receive full benefits as of 1/1/2020. Principal is removing late entrant penalties in total, so for members who were previously late entrants, that will be lifted on 1/1/2020.


Voluntary Term Life

The VTL open enrollment period available annually at policy anniversary, currently referred to as periodic benefit increase (PBI), is being enhanced to offer more flexibility and make it easier for employees to add or increase coverage for themselves and their dependents. Here’s an overview of what’s changing:


  • Coverage that can be added/increased annually without proof of good health up to the benefit maximum will vary based on employee benefit design:
    • $10,000 increment – 2 increments
    • $20,000/$25,000 increment – 1 increment
    • $50,000 increment – requires underwriting approval
    • Percent of salary – not available
  • Spouse and child coverage can be added/increased the same number of increments as the employee (noted above).


Now available to new and existing members - employees & dependents can enroll even if they weren’t previously enrolled.

  • Proof of good health is no longer required when they reach the guarantee issue amount. 
  • Requests to increase coverage beyond what’s available during the open enrollment period with proof of good health are also allowed.


Download Principal's Voluntary Term Life Open Enrollment flyer for more information.


For questions, please contact a member of your B&P Sales Team - 888.722.3373.