On April 6th, 2016, the Departments of Labor (DOL) and Health and Human Services (HHS) issued the final revised template and related materials for the summary of benefits and coverage (SBC) document. Please click here to view a PDF copy of the updated template. Here is a brief overview of what you may need to […]Continue Reading →
Posts Tagged 'sbc'
On June 16, 2015, final regulations were published on the Summary of Benefits and Coverage (SBC) requirement under the Affordable Care Act (ACA). The ACA established a penalty of up to $1,000 for each willful failure to provide the SBC. Also, failing to provide the SBC may trigger an excise tax of $100 per individual for each […]Continue Reading →
Under the Affordable Care Act, group health plans and issuers are required to provide a Summary of Benefits and Coverage (SBC) document to applicants and enrollees. To help ensure that the SBC document truly makes it easier for consumers to access important health care information and understand their plan options, a set of proposed regulations […]Continue Reading →
The summary of benefits and coverage (SBC) document is designed to serve as a brief, simple explanation of what is included in a health plan. Thus, interest was certainly raised this month as a Frequently Asked Questions document was issued regarding on the SBC requirement. Would it become a complex document that increased the burden […]Continue Reading →
Is it time for open enrollment at your place of business? If so, then you may find that this important time of year is one that often leads to confusion and frustration for many involved. The Human Resources director may spend an extraordinary amount of time trying to put together packages to help employees, only […]Continue Reading →