Final SBC Template Released for 2017

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.

 

 

DISCLOSURE

The information provided herein is intended solely for the use of our clients. You may not display, reproduce, copy, modify, license, sell or disseminate in any manner any information included herein, without the express permission of the Publisher or Publishers of articles within.

The information provided is for informational purposes only and does not constitute legal advice. The information above contains only a summary of the applicable legal provisions and does not purport to cover every aspect of any particular law, regulation or requirement. Depending on the specific facts of any situation, there may be additional or different requirements. This is to be used only as a guide and not as a definitive description of your compliance obligations.