A Summary of Benefits and Coverage (SBC) is a requirement of the Patient Protection and Affordable Care Act which mandates that health insurance issuers and group health plans provide customers with a clear... more +
A Summary of Benefits and Coverage (SBC) is a requirement of the Patient Protection and Affordable Care Act which mandates that health insurance issuers and group health plans provide customers with a clear and simple statement of the benefits and coverage of a particular health plan. A compliant SBC must include: 1) a short, plain language summary of a plan's benefits and coverage; and 2) a uniform glossary of terms commonly found in health insurance plans.
What Employers Need to Know about Health Care Reform
The Departments of Labor, Health and Human Services and Treasury released a set of frequently asked questions announcing the availability of an updated Summary of Benefits and Coverage (SBC) template and a new sample...more
The U.S. Departments of Labor, Health and Human Services, and the Treasury recently issued new guidance and templates regarding the summary of benefits and coverage requirement under the Patient Protection and Affordable Care...more
On April 23rd, the DOL, HHS and IRS (the “Agencies”) released an updated template for the Summary of Benefits and Coverage (“SBC”) that group health plans and issuers are required to send to plan participants....more
The Departments of Labor, Treasury, and Health & Human Services have issued new guidance on the content requirements for health plan summaries of benefits and coverage (“SBCs”). Plan sponsors should ensure that the SBCs...more
The U.S. Department of Labor has issued a set of frequently asked questions, together with a new template, for the Summary of Benefits and Coverage (SBC) that applies to group health plans and individual health insurance. The...more
Earlier this week the Agencies issued a revised Summary of Benefits & Coverage (“SBC”) template for use in describing health plan coverage that begins on or after January 1, 2014 and before January 1, 2015. ...more
As the end of 2012 approaches, we consider what a notable year it has been for the future of healthcare reform, starting with the United States Supreme Court’s decision to uphold key provisions of the Patient Protection and...more
With the close of 2012 approaching fast, employers should consider the following checklist of items as the nation moves ahead with compliance with the Affordable Care Act.
Effective in 2013:
The following list...more
As 2012 closes, group health plan sponsors turn their attention to completing 2012 tasks, implementing upcoming 2013 changes, and preparing for the full impact of ACA in 2014.
As 2012 draws to an end, employers pass...more
Starting on January 1, 2013, New Jersey commercial and industrial (C&I) ratepayers will be eligible for a new credit against their Societal Benefits Charge (SBC) contributions. The credit was signed into law by New Jersey...more
After months of uncertainty, the U.S. Supreme Court upheld the federal healthcare reform law known as the Affordable Care Act (ACA). What does this landmark law mean for employers now and in the near and distant future?...more
With the end of 2012 quickly approaching, and for 2013 planning purposes, this newsletter provides a high-level list of the important changes to be aware of under the Patient Protection and Affordable Care Act and the...more
While the timeline for health care reform calls for a phasing in of its key initiatives and compliance measures over several years, employers who provide health plan benefits — and particularly those who offer open enrollment...more
Let's Talk About Health Care Reform:
Are You Ready to Distribute Summaries of Benefits and Coverage (SBCs)?
Suppose that health insurance policies were written in standard format using common terminology and that it...more
Under the health care reform enacted in 2010 under the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010 (referred to collectively here as “PPACA”) new obligations are...more
As everyone knows, the Patient Protection and Affordable Care Act was upheld in a somewhat surprising Supreme Court decision last month. (For a recap of the decision see our Legal Alert on the case).
Set out below is a...more
Excerpt from Health Insurance Reform Timeline chart:
- W2 inclusion of cost of employer-sponsored health coverage for employers who filed more than 250 Forms W2 in prior year. 2012 Forms W2, due 1/31/13
This summer, the U.S. Supreme Court upheld the individual mandate under the Affordable Care Act (to see our National eAuthority on the ruling, click here). So what does this mean for employers? The most important thing...more
The Supreme Court’s decision in National Federation of Independent Business v. Sibelius upholding the Patient Protection and Affordable Care Act (PPACA) leaves in place the market reforms and tax provisions that have become...more
Today the U.S. Supreme Court issued its long-awaited decision on the Patient Protection and Affordable Care Act (ACA). In what is easily the most significant decision this term, and arguably one of the most important rulings...more
Executive Summary: The Departments of Labor (DOL), Health and Human Services (HHS), and the Treasury recently issued an additional guidance providing answers to frequently asked questions (FAQs) regarding the implementation...more
The tri-agency task force has released new FAQs on the rules requiring group health plans and health insurers to issue Summaries of Benefits and Coverage (SBCs) under the Patient Protection and Affordable Care Act (PPACA)....more
On February 14, 2012 HHS, IRS and DOL released final rules implementing the Affordable Care Act’s requirement that group health plans and health insurance issuers provide participants with a summary of benefits and coverage...more
Final Regulations Ease SBC Compliance Duties...more
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