Calendar year 2023 is quickly coming to an end, which also means January 1 health plan renewals are right around the corner. Every year over the last decade has brought new changes for the next plan year; as such, it's that time of year for employers to review their self-funded health plan documents (including, but not limited to, summary plan descriptions (SPDs), plan documents (PDs), combined SPD/PDs, wrap documents, cafeteria documents, and SBCs). To help expedite the process, below is a checklist of items for 2024 and comparison of various Affordable Care Act (ACA) and IRS High Deductible Health Plan (HDHP) limits for 2023 to 2024.
NOTE: This article focuses on key federal requirements affecting most self-insured health and welfare plans and is subject to legislative or regulatory changes. This is not an exhaustive list of compliance requirements and specifically focuses on new items for 2024.
Kelly E. Dempsey is an attorney with The Phia Group, LLC.
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