Archived Insight | March 10, 2017

Be Prepared for Using the New SBC Template

The ACA requires plan sponsors to complete and distribute to participants a Summary of Benefits and Coverage (SBC) form annually. 

Last year, the Departments of Labor, Treasury, and Health and Human Services (the Departments), which together are responsible for implementing the group health plan standards under the Affordable Care Act, changed the SBC template and released detailed instructions for completing the SBC. Consequently, plan sponsors will need to significantly revise their SBCs for each plan for the coming plan year.

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This page is for informational purposes only and does not constitute legal, tax or investment advice. You are encouraged to discuss the issues raised here with your legal, tax and other advisors before determining how the issues apply to your specific situations.

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