Off the Hook (For Now) On Summary of Benefits and Coverage Requirements
We recently alerted you to several requirements of the health care reform laws scheduled to go into effect in 2012 (see HERE). One of these requirements is the four-page summary of benefits and coverage ("SBC"). According to proposed regulations, the DOL set March 23, 2012 as the date when plans would have to start issuing the new SBC forms. However, a few days ago the Department of Labor announced that it will delay implementation of the SBC requirement until final regulations are issued. The DOL's announcement stated that it intends to issue the final regulations "as soon as possible," and also stated that the final regulations "will include an applicability date that gives group health plans and health insurance issuers sufficient time to comply."
Please contact any member of Holland & Hart's Benefits Law Group for questions on the Summary of Benefits and Coverage, any aspects of health care reform, or any other benefits issue.
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