Archive by tag: SBCReturn
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Employer Plan Notices Are Now in Season!

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With open enrollment fast-approaching for many employers, it is also a good time for employers to take stock of whether they have provided all necessary documents and notices for their health and welfare benefit plans to their employees and plan participants this year.
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Categories: Benefits in General, Compliance | Tags: Notice , Compliance , Benefits , SPD , SMM , SBC , SAR , Medicare Part D , Notice of Creditable Coverage , COBRA , HIPAA , CHIP , WHCRA , Wellness , ADA , Grandfathered Plan , MIchelle's Law
As reminder, the new version of the SBC, uniform glossary, and related documents are required for use on or after April 1, 2017.
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Categories: Health Care Reform, Compliance, Health Care in General | Tags: SBC , HRA , ACA

Election Impact on the Affordable Care Act

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Now that the election is over and as the campaign rhetoric dust settles, we wait and watch to see what this will mean for the Affordable Care Act (ACA).
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Categories: Health Care Reform, Compliance | Tags: ACA , Election , ACA Reporting , 2017 , Compliance , Employer Shared Responsibility , SBC

DOL Penalties Adjusted for Inflation

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The Department of Labor (DOL) published an interim final rule on June 30, 2016, to adjust the civil monetary penalties enforced by the DOL for inflation. The catch up adjustments apply to penalties assessed after August 1, 2016, for associated violations that occurred after November 2, 2015.
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Categories: Benefits in General, Health Care Reform, Compliance | Tags: DOL , 5500 , SBC , Penalty

Agencies Announce New SBC Effective Date

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The comment period on the new Summary of Benefits and Coverage (SBC) in now closed. The agencies plan to move quickly to review comments and finalize the SBC template. According to the FAQs about Affordable Care Act Implementation (Part 30), the effective date of the SBC Template is as follows: “The Departments intend that health plans and issuers that maintain an annual open enrollment period will be required to use the new SBC template and associated documents beginning on the first day of...
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Categories: Health Care Reform, Compliance | Tags: SBC , IRS , ACA

Proposed Revisions to SBC

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The Department of Labor has released proposed revisions to the Summary of Benefits and Coverage (SBC) materials and template. Final regulations were released in June of 2015, with the expectation that the new template and revised materials would be finalized in Spring of 2016 for use with plan years beginning on or after January 1, 2017. Some of the changes to the template include the addition of a question—“Are there services covered before you meet your deductible?,” the requirement th...
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Categories: Health Care Reform, Compliance | Tags: IRS , SBC , Health Care Reform , DOL

FAQ on SBC Published

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In a jointly released Affordable Care Act FAQ, the Department of Labor (DOL) clarifies that the regulators intend to finalize changes in the near future to the summary of benefits and coverage (SBC) templates and glossary of terms applicable for use during open enrollments for health plans renewing on or after January 1, 2016 and for newly eligible employees under those plans.
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Categories: Health Care Reform, Compliance | Tags: SBC

Departments Issue Guidance to Revise SBC

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The DOL, HHS and IRS jointly issued guidance on April 23, 2013 affecting the Summary of Benefits and Coverage (SBC) that non-excepted health plans are to use when communicating the benefits of the plan for coverage beginning on or after January 1, 2014.
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Categories: Health Care Reform, Benefits in General, Compliance | Tags: SBC
The Departments of Labor and Health and Human Services, along with Treasury/IRS, released a final rule on the health care reform requirement that group health plans provide a summary of benefits and coverage (SBC) to consumers.
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Categories: Health Care Reform | Tags: SBC , Preventative Care