The fall season is a time of change, especially for HR and benefit professionals.
Fall brings more than just daylight savings time change or the colors of the trees, it brings open enrollment. Each year HR and benefit professionals must provide employees with options for the next plan year. The list of activities for this season should include the following:
Summary of Benefits & Coverage (SBC). A new requirement for this year is the SBC, under the Affordable Care Act (ACA). You must provide an SBC to all applicants and enrollees for all group health plans, except for those that are excepted benefits under HIPAA (e.g., stand-alone dental, vision, most Health FSAs). This requirement is effective for open enrollment periods that start on or after September 23, 2012.
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