On September 18th, the IRS released Notice 2014-55, helpful guidance that will provide relief for employees that have coverage through an employer's group health plan but want to terminate coverage and enroll through the Health Insurance Marketplace (federal or state options). Notice 2014-55 expands the list of approved qualifying events to include enrollment in the Marketplace during an open enrollment period or Special Election Period. This development will primarily assist employees in non-calendar plan years concerned about being locked on the group health plan since the group plan renewal did not align with the Marketplace open enrollment period. With the change, employees now have the option to enroll in Marketplace coverage when eligible and make a corresponding Section 125 election change to drop group coverage. This effectively solves the "election lock" problem that has been a concern for both employers and employees. Note: the Marketplace open enrollment period for 2015 coverage will be from 11/15/14 through 2/15/15.