Several deadline extensions granted for employee benefit plans are set to expire soon.
Granted by several agencies – including the Department of Labor, the Treasury Department and the Employee Benefits Security Administration – the deadline extensions were created as part of the national response to the COVID-19 pandemic
The following deadline extensions are set to expire on March 1, 2021:
- Enrolling mid-year in group health plan coverage
- Electing and paying for COBRA continuation coverage
- Submitting benefit claims
- Filing appeals for adverse benefits determinations
There is some ambiguity in the final rule that granted these deadline extensions – and Congress could pass a new extension. However, organizations should proceed as if these deadline extensions will expire on March 1.
That means preparing to communicate these deadlines to your people as soon as possible. These changes impact important plan and payment deadlines, so be sure to notify all members and participants about the details.
You can read more, particularly about the COBRA items, in the HealthEquity compliance alert. For more information, including any new guidance, legislation or rule changes that could extend these deadlines again, be sure to subscribe to our blog.
HealthEquity does not provide legal, tax or financial advice. Always consult a professional when making life-changing decisions.