The healthcare reform law requires employers who sponsor health plans to provide workers with “summaries of coverage.” But after some delays, the feds just published the final rules, deadline and sample documents.
Under the final rules, insurance companies and plan sponsors with plan years that start September 23, 2012 or later will have to supply the documents during their next open enrollment.
Originally, employers were tasked with providing the documents beginning March 23, 2012.
The two documents the healthcare reform bill says plan participants must receive from insurers and plan sponsors:
- A short, easy-to-understand Summary of Benefits and Coverage (SBC) , and
- A glossary of terms commonly associated with health insurance, such as “deductible” and “co-pay.”
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