The IRS recently issued Notice 2014-55
The IRS recently issued Notice 2014-55 which expands the permitted election rules for health coverage under a Section 125 cafeteria plan. In this notice there are two specific situations that are addressed allowing a cafeteria plan participant to revoke their election during a period of coverage. In order to allow the new permitted election changes under this notice, cafeteria plans must be amended to allow for such changed. <br><br> A participating employee whose hours of service are reduced so that they are expected to average less than 30 hours of service per week, but the reduction of hours does not affect the employees eligibility for coverage under the group health plan.<br />An employee participating in the employer's group health plan who would like to cease coverage and purchase coverage through an Exchange or Marketplace program.
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