To prepare for open enrollment, health plan sponsors should become familiar with the legal changes affecting their plans for the 2014 plan year. These changes are primarily due to the Affordable Care Act (ACA). Many of the ACA’s key reforms will become effective in 2014.
Plan sponsors should review their plan documents to confirm that they include these required changes. In addition, any changes to a health plan’s benefits for the 2014 plan year should be communicated to plan participants. Health plan sponsors should also confirm that their open enrollment materials contain certain required participant notices, such as the summary of benefits and coverage under the ACA.
There are also some participant notices that must be provided annually or upon initial enrollment. To minimize cost and streamline administration, employers should consider also including these notices in their open enrollment materials.
More information can be found on the 2014 Open Enrollment Checklist.
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