To prepare for open enrollment, group health plan sponsors should be aware of the legal changes affecting the design and administration of their plans for plan years beginning on or after Jan. 1, 2020. Items to consider include:
- ACA Affordability Rate changes – employers may consider reducing their employee contributions for 2020 to avoid a penalty under the pay or play rules
- Out-of-pocket maximum changes
- HSA minimum deductible, maximum out-of-pocket and contribution limit changes
- New HRA designs – Individual Coverage HRA (ICHRA) and Excepted Benefit HRA (EBHRA)
Refer to the attached 2020 Open Enrollment Checklist for detail on the above and other reminders, and contact your NEEBCo representative with questions.