Monday, February 20, 2012

Final regulations published on Summary of Benefits and Coverage (SBC) requirements

On February 14th, agencies released final regulations regarding the health reform requirement to provide health plan information in a uniform format, now known as an SBC.  PPACA had originally set the applicability date of this requirement as March 23, 2012, though the final regulations have delayed this date.  The SBC must now be provided beginning with the first open enrollment period that begins on or after September 23, 2012.

As a part of these regulations, the SBC template has been finalized, along with a sample completed SBC, instructions, sample language, coverage examples, and a uniform glossary.  These materials are available on the DOL website and HHS website.

We will update you with details on the proposed implementation of this provision as carriers set forth their plans for SBC creation and distribution.

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