As an employer, we want you to have the resources to communicate and educate your employees about their ICHRA experience!
One of our Core Values at benefitbay® is adaptability. We believe it is important for you as an employer to have all the resources to ensure your company's administration of the Individual Coverage Health Reimbursement Arrangement (ICHRA) for medical is successful. We know you have enough on your plate we strive to continue to improve our platform and processes to make it easy for you AND your employees!
As part of that adaptability, we've provided you with communication below to help educate and communicate with your employees on this next transition to their new season.
Keeping/canceling ICHRA Coverage
Who should you send the email to? Every employee who separates employment with your company.
When is the email sent? The email should be sent as soon as the employee provides notice of termination.
What is the context of the email?
"Subject: Change in coverage- ACTION REQUIRED!"
Hello,
We appreciate you letting us know about your employment with our company. We understand at this time, you may have some uncertainty about whether you can keep your medical benefits.
Your medical coverage is fully transportable and you are welcome to keep your plan. If you would like to keep your coverage you will need to provide a new form of payment, please complete the steps outlined below:
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Go directly to your insurance carrier account and change the banking information from the benefitbay® ARC account to a personal form of payment
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Confirm with your carrier that your new payment method is set for autopay for future recurring payments
If you choose NOT to stay on your healthcare plan, you will need to notify your insurance carrier directly to terminate the individual policy. This would mean you would no longer have access to this individual medical plan. This would be the best step if you have enrolled in another medical plan such as a new employer policy, or will be covered as a dependent on someone else's plan.
NOTE: Declined medical premium payments may harm your ability to gain coverage in the future.
During this time of transition if you have any questions or issues, please reach out to the benefitbay® Customer Support (support@benefitbay.com).
FAQs
What is the value of sending this information to our company's employees?
Answer: Our team sends a very similar email, however, we have found employees are more likely to take action when they receive the information directly from your company.
What if I want to edit the context of the emails?
Answer: You are free to edit the context of the emails. The provided templates are available as a resource to help administer ICHRA for your company. We understand your company may offer other benefits besides medical as well in which you need to provide information.
Will I be informed of changes made to the context of the emails?
Answer: You will not receive a "formal" notification of any changes made. Changes can occur due to changes in our platform or processes at any time. However, you can refer to this article for any updates.