Employers must comply with numerous reporting and disclosure requirements in connection with their group health plans. Please note the following upcoming deadlines:
| DUE DATE | TOPIC | REQUIREMENT |
|---|---|---|
| 8/1-10/31/2024 (approximately) | Medical Loss Ratio (“MLR”) Rebates | Sponsors of insured health plans may receive rebates if their issuers did not meet their MLR for the respective reporting year. Rebates must be provided to plan sponsors by September 30 following the end of the MLR reporting year. Employers that receive rebates should consider their legal options for using the rebate. Any rebate amount that qualifies as a plan asset under ERISA must be used for the exclusive benefit of the plan’s participants and beneficiaries. If received, the rebate amount attributable to plan assets generally must be distributed pro-rata to the members in either premium credits or other benefit within 90 days of receipt. Plan sponsors should document how the rebate was used. |
| 9/30/2024 (or 9 months after end of plan year; additional 2 months permitted if Form 5558 extension filed) | Summary Annual Report | Plan Sponsors that file Form 5500 must provide to covered participants a summary of the information in the Form 5500. |
| 10/14/2024 | Notice of Medicare Part D Creditable/ Non-Creditable Coverage (Medicare Part D Notice) | Provide to Medicare Part D-eligible participants (employee or dependent who is over age 65 or permanently disabled) annually. Providing Notice during open enrollment to all participants is generally adequate. Model disclosure notices are available on CMS’ website. |
| 10/15/2024 (or 9 ½ months after end of the plan year + extension period) | Form 5500, if extension Form 5558 was filed (calendar year plans) | All health and welfare plans with 100+ participants that are subject to ERISA must report. |
| 11/15/2024 (or 15th day of the 11th month after end of the plan year) | Form 990 (or 990-EZ), if second 3- month extension was obtained | Applies to VEBAs only. |
| 12/16/2024 | Health Insurance Responsibility Disclosure (“HIRD”) form due to Massachusetts Department of Revenue: For more information visit this link. | Applies to employers (regardless of location) with six or more employees within Massachusetts during the previous 12 months. Filing is to be completed electronically from 11/15/2024-12/15/2024. |
| 12/16/2024 (or 2 months after close of extension period for filing Form 5500) | Summary Annual Report, if extension was filed (calendar year plans) | Plan Sponsors that file Forms 5500 must provide to covered participants. |
| 12/31/2024 | Update/amend documents for 2024 plan year | Provide updated SBCs in connection with plan’s 2025 open enrollment period. Amend cafeteria plan to reflect any changes made in 2024. Amend/restate wrap document and SPD as necessary. |
| 12/31/2024 | Nondiscrimination Testing | Ensure applicable nondiscrimination testing is performed at least annually. Code Section 105(h) for self-funded health plans, including Health Care FSAs and HRAs. Code Section 79 for Group Term Life Insurance. Code Section 125 for Cafeteria Plans. Code Section 505 for VEBAs. Code Section 129 for Dependent Care FSAs. Code Section 127 for Educational Assistance. Code Section 137 for Adoption Assistance. |
| 12/31/2024 | Attestation of compliance with prohibition on gag clauses | Ensure any contracts with third party administrators (“TPAs”) or other health plan service providers offering access to a network of providers do not violate the CAA’s prohibition of gag clauses: Fully insured plan sponsors: confirm insurer will provide attestation. Self-insured plans: consider entering into written agreements with their TPAs to provide the attestation, but the legal responsibility ultimately remains with the health plan. |
To see the full 2024 year of Compliance Deadlines, click on this LINK.
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