One key aspect of managing ICHRA is ensuring that the necessary notices are provided to employees in a timely and compliant manner. These notices inform employees about the availability of the ICHRA, eligibility requirements, and important deadlines. Understanding the requirements surrounding ICHRA notices and timelines can help employers stay compliant with federal regulations and avoid potential penalties.
Key points about ICHRA notices and timeline:
- 90-Day Notice/Attestation: This is the recommended timeframe to give employees enough time to review their options and select a medical plan prior to the ICHRA plan year start date.
- New hires: If an employee is newly hired mid-plan year, they should receive the notice on or before their first day of eligibility for the ICHRA.
- Annual requirement: The ICHRA 90-day notice/Attestation must be provided to all eligible employees each year the employer offers the benefit.
