How does the renewal process work for my clients?

All individual Marketplace plans are structured on a calendar-year basis. This means that ICHRA coverage resets annually, with every plan having a January 1 effective date.

Our renewal process officially kicks off in September each year. During this crucial period, our team proactively reaches out to all plan administrators. The purpose of this communication is to confirm if any updates are needed for the upcoming plan year. This is the opportunity for administrators to adjust key aspects of the plan, such as modifying the contribution amounts offered to employees or changing the waiting periods for new hires to become eligible for coverage.

If an administrator does not submit any changes by the specified deadline, the ICHRA policy is set to automatically renew for the following year. The plan will roll over with all the existing details, terms, and contribution amounts unchanged.

To guarantee a smooth and stress-free transition for all employees, our primary goal is to have all policy updates and changes finalized by early November. This timing is critical because the open enrollment period for employees typically runs from November 1 to December 15 in most states, for coverage that will begin on January 1. It is within this specific window that employees can thoroughly review their options, renew their current health plan, or select a new one for the year ahead.