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As the year draws to a close, it’s important for employers to keep compliance requirements for their employee benefit plans at the forefront. To ensure a smooth transition into 2025, there are several key benefits-related tasks that must be completed by the end of 2024, including:
- Submitting a gag clause attestation for health plans;
- Ensuring that plan documents are amended for any discretionary changes made in 2024;
- Confirming that all annual notices, such as the Children's Health Insurance Plan (CHIP) notice, have been provided;
- Conducting any necessary nondiscrimination testing.
Employers should prepare for next year by ensuring health plan affordability for full-time employees, updating 2025 benefit plan limits, and revising employee communications like summary plan descriptions (SPDs).
In preparation for 2025, employers should consider taking the following steps:
- Update employee communications;
- Prepare to file Affordable Care Act returns;
- Update employee benefit limits; and
- Confirm health plan affordability (ALEs only).
Download the bulletin for the 2024 year-end checklist.
Additional Resources
Gag clause attestation instructions and user manual
Model notices for Group health plans
National Insurance Services is not a law firm and no opinion, suggestion, or recommendation of the firm or its employees shall constitute legal advice. Readers are advised to consult with their own attorney for a determination of their legal rights, responsibilities and liabilities, including the interpretation of any statute or regulation, or its application to the readers’ business activities.
