Page 5 - BOC 2021 Benefits Booklet

Eligibility

General Description of Eligibility

All employee benefit programs are available to employees working 20 or more
hours per week.

New Hire Waiting Period

As a newly hired full-time employee, you will become eligible to participate in

benefit programs on the 1 of the month following your date of hire. As an
st
example, if you were hired on June 5 , you would be eligible on July 1 , which is
st
th
your date of initial eligibility. BANK OF COMMERCE HOLDINGS offers a quality
benefit package. Please keep in mind that should you waive coverage as a new
hire you will not be eligible to join the plans until the following open enrollment
period.

Annual Enrollment

The plan choices you elect will remain in effect for a period of one year, or until
the next open enrollment. Each year you will have the opportunity to make
changes to your benefits package during open enrollment. With the exception of

certain qualifying events, open enrollment is the only time benefit changes may
be made. Qualifying events include the following family status changes:

• Marriage or divorce,
• Addition of a dependent (birth, adoption, etc.),

• Death of a dependent or a covered family member, or
• Loss of coverage under spouse’s benefit plan

All enrollment changes must be completed within 30 days of the event date.
Documentation will be required to verify your change of status. Failure to request
a change of status within 30 days of the qualifying event may result in you having
to wait until the next open enrollment period to make your change; this includes

the enrollment of a newborn child. Please be sure to you notify the Human
Resources Department of a qualifying event at your earliest opportunity.

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