Employee Benefit News for School, City and County Employers

2023 Open Enrollment Checklist

Written by Steve Smith | Aug 2, 2022 3:04:40 PM

1.5 minute read

For plan years beginning on or after January 1, 2023, employers should be aware of legal changes affecting the design and administration of their plans. It’s important to communicate any benefit changes to your employees through an updated summary plan description or a summary of material modifications. Also, the open enrollment period is a good time to distribute any required notices, some of which are required annually or during an employee’s initial enrollment.

Here is a brief overview of some changes for 2023:

  • The ACA Affordability percentage for plan years that begin on or after January 1, 2023, has not been released yet. Stay tuned to our blog for updates. The current adjusted percentage for 2022 is 9.61%.
  • The non-HDHP out-of-pocket maximum is $9,100 for self-only, $18,200 family.
  • The HSA Qualified HDHP out-of-pocket maximum is $7,500 for self-only, $15,000 family.
  • The health FSA limits for 2023 have not been released yet. The current limit for 2022 is $2,850. Stay tuned to our blog for updates.
  • The new HDHP and HSA Limits for 2023 are:
Type of Limit 2023
HSA Contribution Limit Self-only $3,850
Family $7,750
HSA Catch-up Contributions (not subject to adjustment for inflation) Age 55 or older $1,000
HDHP Minimum Deductible Self-only $1,500
Family $3,000
HDHP Maximum Out-of-pocket Expense Limit (deductibles, copayments and other amounts, but not premiums) Self-only $7,500
Family $15,000

 

Download the 2023 Open Enrollment Checklist for more details.

 
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