A quick reminder that fixed indemnity plans must include a notice for plan years beginning January 1, 2025, explaining that it is not minimum essential coverage. The notice must be prominently displayed in marketing, application, enrollment and reenrollment materials and the notice must be prominently displayed in the policy, certificate or contract of insurance. The notice must be included on the first page in at least 14-point font.
Employers that offer this type of product will want to work with their insurers to ensure the notice is accurate and include in the required materials.
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