In mid-August, the State automatically extended exemptions for Fully Insured Private Plans until December 31, 2020 (from September 30, 2020). If you have a Fully Insured Private Plan, now is the time to be finalizing your rates and terms with your insurer and to begin preparing for your annual exemption filing with the State. Here are
3 steps you need to take before the end of the year:
Finalize rates and terms; your insurer may require an updated census and completion of a new application.
Obtain an updated Declaration of Insurance from your insurer; you'll need the policy number from this document to file for your 2021 Private Plan exemption.
File your ANNUAL Private Plan Exemption with the State via your MassTaxConnect Account before December 31, 2020.
For more information watch our Compliance Brief or contact any member of the Sullivan Benefits Team.