Tip Tuesday! Highlights of the SBC Requirement

By Linda Rowings

With Fall open enrollment around the corner, most employers will need to provide a Summary of Benefits and Coverage (SBC) to eligible individuals. Here are some highlights of the requirement (as of August 2014):
- Plan administrators of group health plans must provide a Summary of Benefits and Coverage (SBC) to eligible individuals

• Insurer is responsible for creating the SBC for fully insured plans, and the insurer and plan administrator are both responsible for distributing to participants in insured plans
• Plan administrator (which is usually the employer) is responsible for creating and distributing the SBC for self-funded plans

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