Your QSEHRA plan runs on a calendar year, which means that each Fall you start thinking about renewing your plan! When we talk about your plan renewing, we mean that each calendar year you get a chance to reset your plan design for your employees.
When do I need to renew my HRA?
All existing HRA administrators will need to let us know by September 15th what changes, if any, they want to make to their plans for 2022.
We know, that sounds early.
But here's the deal: QSEHRA guidance says that you have to provide your employees with a 90-day notice before each new plan year. That means that 90 days before January 1, 2022, they should be notified of their benefits for next year. We will generate your 2022 Employee Notice for you and provide it to your employees.
90 days from January 1st is October 3rd, and we will need a few days to generate documents for your employees in time, so September 15th is the ideal final day for you to let us know.
So, why does the guidance require a 90-day notice?
Open Enrollment begins November 1st, so giving your employees a little bit of notice helps them prepare to shop for their 2022 individual plans.
What are the 2022 QSEHRA limits?
The contribution maximums for QSEHRA is 2022 are $5,450 ($454.16/month) for single employees and $11,050 ($920.83/month) for families.
What do I need to think about when planning for my 2022 QSEHRA?
If your plan is working for you this year, then you can keep it all exactly the same! We know 2021 has been, well, unprecedented. So if you've had some big changes to your staff, your budget, or your needs this year, you may want to switch it up!
Here are some things to think about:
Do you want to change your QSEHRA allowances? Remember you can offer everyone the same amount, vary allowances by family status, or offer everyone the maximum.
Do you want to start or stop reimbursement for medical expenses, in addition to monthly premiums?
Do you want to add or remove an eligibility wait period for new hires, which determines how long they must be employed before receiving the benefit?
Do you want to start or stop offering taxable reimbursements to employees who pay their premiums through a spouse's or another employer's group plan?
Do you want to offer SMART benefits?
Wondering about other HRA options?
You've probably heard us talk about another type of HRA, called ICHRA. If your QSEHRA is working for you, we usually recommend sticking with it, but we can help you think through whether ICHRA could be a better fit. Check out more information on that here.
Let us know if you need help deciding what's best!
So, how do I tell you what I want?
Starting in September, you'll be able to check a few boxes through your Administrator Member Portal to make your 2022 selections.
Help! I need to talk some things out.
That's what we're here for! Use the chat function in the bottom right corner of your screen to talk with our Client Success team, and we'd be happy to help you think through what's best for you and your team.
Still not sure where to start? Check out our Admin Resource Center for more resources and support.