News & Analysis as of September 19, 2024

Summary of Benefits and Coverage

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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. less -

Benefits Monthly Minute - August 2024

Keating Muething & Klekamp PLL on 8/28/2024

The August Monthly Minute highlights new IRS guidance addressing student loan matching programs, HHS’s increases to civil monetary penalties and Form 5330 paper filing updates....more

Preventive Care in a Post-Braidwood World: Agencies Release Guidance on Preventive Services Coverage Requirements

Proskauer - Employee Benefits & Executive... on 4/26/2023

The Departments of Labor, Treasury, and Health and Human Services (the “Departments”) recently released guidance for group health plans on required preventive services coverage. The guidance was issued in response to a...more

DOL Announces Higher Penalties for Plan Compliance Errors

Fisher Phillips on 3/3/2022

Since 2015, federal agencies have been required to annually review the laws and regulations they enforce to adjust applicable penalties for inflation. The idea has been to provide increasingly greater incentives for plan...more

The Cost of Employee Benefits Non-Compliance Just Went Up . . . Again

Fisher Phillips on 11/30/2021

The U.S. Department of Health & Human Services (HHS) just announced increased penalty amounts for entities who violate the privacy, security, and breach notification rules under the Health Insurance Portability and...more

Business Resources and Recovery (UPDATED)

Farrell Fritz, P.C. on 4/14/2020

Businesses grappling with the economic impact of the ongoing COVID-19 crisis have the opportunity to apply for financial assistance through a variety of Federal, State and Local programs. ...more

FCC Approves $200 Million COVID-19 Telehealth Program

Snell & Wilmer on 4/8/2020

At the same time as the Federal Communications Commission (“FCC”) adopted final rules to establish a multi-year telehealth pilot program entitled the “Connected Care Pilot Program,” the commission released a Report and Order,...more

[Webinar] Government Contracting Fundamentals Series: A Primer on the Federal Small Business Programs: Eligibility and Common...

Obermayer Rebmann Maxwell & Hippel LLP on 12/23/2019

Obermayer is excited to introduce its new “GovCon Examiner Live” webinar series, your resource for the fundamentals in government contracting and small business procurement. Over the course of 12 months, our experienced...more

2017 End of Year Plan Sponsor “To Do” List (Part 1) Health & Welfare

Snell & Wilmer on 10/18/2017

As 2017 comes to an end, we are pleased to present our traditional End of Year Plan Sponsor “To Do” Lists. This year, we are presenting our “To Do” Lists in four separate Employee Benefits Updates. This Part 1 will cover...more

Updated SBC Templates Apply for 2018 Open Enrollment

Kilpatrick on 7/12/2017

The new SBC templates released last year are required for open enrollment periods beginning on and after April 1, 2017. For health plans and employers with calendar year plans, this means the updated SBC templates and...more

"Tax Court Invalidates Stock-Based Compensation Amendment in Altera"

Skadden, Arps, Slate, Meagher & Flom LLP on 8/4/2015

On July 27, 2015, the U.S. Tax Court, in Altera Corp. and Subsidiaries v. Commissioner, 145 T.C. No. 3, invalidated a 2003 amendment to Treas. Reg. §1.482-7(d)(2) (2003 Amendment) that required controlled participants in a...more

SEC Issues Proposed Incentive Compensation Clawback Rule

Franczek P.C. on 7/24/2015

In another round of rulemaking related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, the SEC proposed a rule that would require certain executive officers to pay back incentive compensation tied to...more

Monthly Benefits Alert - June 2015

Franczek P.C. on 7/7/2015

Supreme Court - As explained in more detail in separate alerts we issued over the past several days, the Supreme Court decided two major cases involving the Affordable Care Act and same-sex marriage. First, as described...more

Employers, Remember Your SBC and New Template!

Ogletree, Deakins, Nash, Smoak & Stewart,... on 8/15/2013

Employers conducting their annual group health plan open enrollments this fall must remember to include a summary of benefits and coverage (SBC), along with a uniform glossary to that SBC, as required by the Affordable Care...more

Additional Guidance Issued on Summary of Benefits and Coverage Disclosure Requirements

McDermott Will & Emery on 5/3/2013

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

Agencies Issue Updated Summary of Benefits and Coverage

Proskauer - Employee Benefits & Executive... on 5/1/2013

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

Affordable Care Act: New Requirements for Summary of Benefits and Coverage

Bradley Arant Boult Cummings LLP on 4/30/2013

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

More Guidance Issued on Summaries of Benefits and Coverage

Ballard Spahr LLP on 4/26/2013

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

What Employers Need to Know About Healthcare Reform for 2013

Sheppard Mullin Richter & Hampton LLP on 1/2/2013

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

2013 and 2014 under the Affordable Care Act

Sherman & Howard L.L.C. on 12/21/2012

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

Group Health Plans: Year-End Action Items, Upcoming Changes, New Guidance

Morgan Lewis on 12/21/2012

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

New Credits for Commercial and Industrial Ratepayers to Take Effect in January 2013

Cozen O'Connor on 11/15/2012

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

What Every Employer Should Know About the Affordable Care Act (ACA)

Foley Hoag LLP on 11/13/2012

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

What Employers Need to Know for 2012 and 2013 Under the Patient Protection and Affordable Care Act

McDermott Will & Emery on 10/29/2012

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

EMPLOYEE BENEFITS ALERT: Deadlines loom for 2012 health care reform compliance by Jim Prince

McAfee & Taft on 10/18/2012

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

End of Year Action Items – Plan Now for 2012-2013 Compliance

Poyner Spruill LLP on 10/9/2012

With year-end fast approaching, now is the time for plan sponsors to review their employee benefit plans to ensure that they have been updated for any changes in the law, that required notices have been distributed, and to...more

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Summary of Benefits and Coverage

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