On March 24, 2021, Superintendent Toal announced that the state’s insurance exchange extended the special enrollment period (SEP) for enrolling in health plans to August 15, 2021. The original SEP was discussed in the March 4, 2021, edition of Compliance Corner.
While the creation of the SEP will affect individuals that will enroll on the marketplace, employers should be mindful of this extension in case there are employees who seek to drop coverage under their plans to take advantage of the SEP. Specifically, the permissible qualifying event for a revocation due to enrollment in a qualified plan will allow an employee to drop their employer’s plan mid-year if they intend to enroll in the marketplace.
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