2023 Year-end Checklist for Employee Benefit Plans

Although the end of the year is a busy time, employers should continue to prioritize compliance requirements for their employee benefit plans. There are several benefits-related tasks that employers should make sure are completed by the end of 2023, such as:

• Submitting a gag clause attestation for their health plans (or confirming that an issuer or third-party administrator (TPA) submits the attestation);
• Amending plan documents for discretionary changes made for 2023;
• Confirming annual notices have been provided, such as the Children’s Health Insurance Plan (CHIP) notice; and
• Performing any necessary non-discrimination testing.

In addition, employers should take steps to prepare for next year. For applicable large employers (ALEs), this includes making sure that health plan coverage will be affordable for full-time employees. Employers should also update employee benefit plan limits for 2024 and revise employee communications, such as summary plan descriptions (SPDs), for 2024 benefit changes.

Download this Compliance Overview which contains a year-end compliance checklist for employee benefit plans.

Prepare for End of 2023

Tasks that may need to be completed by year-end include the following:  

• Ensure gag clause attestation is submitted for the health plan;
• Remind employees about rules for unused balances in FSAs and HRAs;
• Send annual notices;
• Perform nondiscrimination testing; and
• Amend plan documents.

Prepare for Start of 2024

To prepare for 2024, employers should consider taking the following steps:

• Confirm health plan affordability (ALEs only);
• Update employee benefit limits;
• Prepare to file ACA returns electronically; an
• Update employee communications.

Links and Resources

• Gag clause attestation website
• Model notices for group health plans, including the Women’s Health and Cancer Rights Act (WHCRA) notice
• Model CHIP notice