What term is used for the period when employees can make changes to their benefits outside of open enrollment?

The term "Qualifying Life Events (QLEs)" refers to specific situations that allow employees to make changes to their benefits outside of the designated open enrollment period. These events typically include significant life changes, such as marriage, divorce, the birth or adoption of a child, or a change in employment status. The allowance for benefit changes during these events ensures that employees can adjust their benefits to better match their current life circumstances and needs. This term emphasizes the importance of flexibility within benefits administration, recognizing that life events can significantly impact an individual’s or family's benefit needs at any time of the year.

In contrast, "Open Enrollment Period" pertains to the scheduled time when all employees have the opportunity to enroll in or make changes to their benefits, which is distinct from QLEs. "Flexible Benefits Plan" refers to a type of benefits package that provides employees with the choice to customize their benefits but does not directly relate to the timing of making changes. "Annual Benefit Review" generally pertains to a review process that may happen yearly to assess benefits usage and needs but does not imply the ability to modify benefits outside of the established open enrollment or QLEs.