Health Care Reform & Employee Benefits Update

The Dept. of Labor has just issued additional information on the Summary of Benefits and Coverage (SBC), stating again that plans are not required to provide the SBC until final regulations are issued. 
 
Under the Patient Protection and Affordable Care Act (PPACA), insurance carriers and plan sponsors must provide a Summary of Benefits and Coverage (SBC) and Uniform Glossary of Terms to plan participants beginning on or after March 23, 2012. The DOL issued proposed regulations on the SBC; however, final guidance is needed to clarify a number of outstanding issues, including the timeframe for compliance. At this point, final guidance has not been issued.

Special thanks to Kibble & Prentice for their expertise on this issue.