IRS Notice 2014–55 per­mits a cafe­te­ria plan to allow an employ­ee to revoke their elec­tion under the cafe­te­ria plan regard­ing med­ical insur­ance cov­er­age at such time as they are eli­gi­ble for and elect to enroll in a Mar­ket­place (Exchange) plan

What they did not say in their notice is that some­one should care­ful­ly con­sid­er whether they are get­ting a bet­ter deal by buy­ing cov­er­age with after tax dol­lars vs. pre tax dol­lars, and also what the val­ue of any sub­sidy they may receive would be to off­set the dif­fer­ence. Note that the sub­sidy is NOT avail­able to those that have cov­er­age avail­able through their employer