Federal mandates effective 1/1/2025 will require a consumer disclosure to be provided. This article will go over how to update your applicable plans in Fuse.
Based on a federal mandate effective January 1, 2025, group plans must provide a consumer disclosure notice for all short-term limited duration insurance, hospital indemnity insurance, and other fixed indemnity excepted benefits coverage (as opposed to comprehensive major medical coverage) for plan years beginning on or after January 1, 2025. Plan Sponsors must review their insurance plans to determine if a plan meets the referenced criteria. The disclosure notice is required to be prominently displayed in at least 14-point font on the first page of any applicable marketing, application, or enrollment materials (or re-enrollment materials) that are provided to participants at or before the time participants are given the opportunity to enroll (or re-enroll) in the coverage.
To satisfy the federal mandate requirement effective January 1, 2025, if a benefits plan meets the criteria, a new setting has been added that will display a message for fixed indemnity policies to employees during open enrollment.
To enable this setting, go to Settings > Profiles/Policies > Benefits > Plans, and click on the edit icon next to the plan you wish to add the disclosure. On the Benefit Plan edit screen, you will need to mark this checkbox titled Show consumer disclosure notice for fixed indemnity policy. It is also important to review your passive enrollment settings to remain compliant.
Note: This is intended solely as a service update. Fuse does not provide legal advice. You are encouraged to seek the advice of legal counsel to ensure your compliance with all applicable laws and regulations.