2021 Compliance Checklist for Group Health Plan Sponsors
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As we near year-end, group health plan sponsors should be aware of the numerous compliance requirements and filings to be completed for the year ahead. For plan years beginning on or after Jan. 1, 2021 there are many changes to understand and adopt to.
To prepare, employers should:
- review their plan documents to confirm that they include these required changes
- communicate any changes to a health plan’s benefits for the 2021 plan year to plan participants through an updated summary plan description (SPD) or a summary of material modifications (SMM)
- confirm that their open enrollment materials contain certain required participant notices, when applicable—for example, the summary of benefits and coverage (SBC)
Although each plan is different, download our general compliance checklist that includes key considerations to remain compliant. If you have any questions on your plan’s compliance requirements, please reach out to your Johnson Financial Group Employee Benefits Consultant or find one today.