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).
- Plans with annual open enrollment periods must start using the new template on the first day of the first open enrollment period that begins on or after April 1, 2017, with respect to coverage for plan or policy years beginning on or after that date.
- Plans without an annual open enrollment period must start using the new template on the first day of the first plan or policy year that begins on or after April 1, 2017.
ACTION STEPS
Employers should become familiar with the new template and related materials. Self-funded plan sponsors should ensure that they are using the new template on the appropriate effective date. Employers with fully-insured plans should make sure the carrier is providing the correct version of the template once it is required.