Loan & Distribution Specialist AimPoint Pension
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Compass
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Regional Vice President of Sales The Retirement Plan Company
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Bates & Company, Inc.
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AimPoint Pension
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Don't Forget Year-End Amendment to Cafeteria Plans Allowing Revocation for Marketplace Coverage
Jackson Lewis P.C. [Guidance Overview] Dec. 14, 2015
"Notice 2014-55 was effective as of September 18, 2014, and it allowed participants to revoke a cafeteria plan election for group health coverage, that is not a health FSA and provides minimum essential coverage, for two specific situations.... The first ... was that employees experiencing a change in employment status where they no longer expect to average 30 hours of service per week, but remain eligible for employer-provided coverage, may revoke a cafeteria plan election and elect other minimum essential coverage.... The second scenario arises when participants who made a cafeteria plan election for group health coverage intend to enroll in Marketplace coverage during either a special enrollment period or the Marketplace's annual enrollment period (for non-calendar year plans)."
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