On Thursday, the Department of Labor released the Final Regulations describing a plan sponsor’s responsibilities for preparing and distributing the 4-Page Summary of Benefits and Coverage (SBC). The template for the 4-Page (double-sided) Summary has not changed significantly from the earlier proposed regulations and the Final Regulations require compliance for plan years on or after September 23, 2012.

MedBen is in the process of reviewing the Final Regulations and will provide for its clients a summary of the requirements, but in the meantime, additional information can be found on the Department of Labor’s Employee Benefits Security Administration website:

Summary of Benefits and Coverage and Uniform Glossary

• Final Regulations, available at www.dol.gov/ebsa/pdf/SBCfinalreg.pdf
• Compliance Guide, available at www.dol.gov/ebsa/pdf/SBCguidance.pdf
• Summary of Benefits and Coverage Template, available at www.dol.gov/ebsa/pdf/SBCtemplate.pdf
• Sample Completed SBC, available at www.dol.gov/ebsa/pdf/SBCSampleCompleted.pdf
• Instructions for Completing the SBC - Group Health Plan Coverage, available at www.dol.gov/ebsa/pdf/SBCInstructionsGroup.pdf
• Instructions for Completing the SBC - Individual Health Insurance Coverage, available at www.dol.gov/ebsa/pdf/SBCInstructionsIndividual.pdf
• Why This Matters language for “Yes” Answers, available at www.dol.gov/ebsa/pdf/SBCYesAnswers.pdf
• Why This Matters language for “No” Answers, available at www.dol.gov/ebsa/pdf/SBCNoAnswers.pdf
• HHS Information for Simulating Coverage Examples, available at cciio.cms.gov/resources/other/index.html#sbcug
• Uniform Glossary of Coverage and Medical Terms, available at www.dol.gov/ebsa/pdf/SBCUniformGlossary.pdf

MedBen clients who have any immediate questions may contact MedBen Vice President of Compliance Caroline Fraker at (800) 851-0907.