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ACA Compliance Bulletin: New SBC Template will be Required for 2021

On November 8, 2019, the Departments of Labor (DOL) and Health and Human Services (HHS) provided an updated Summary of Benefits and Coverage (SBC) template to be used beginning with plan years starting on January 1, 2021.  This means that employers who offer self-funded plans must ensure that the SBC document being issued to their employees for the January 1, 2021 plan year is provided using the updated template noted.  Likewise, employers of fully-insured plans must ensure that the medical carriers issue the correct updated SBC document during the timeframe listed above.

The ACA Compliance Bulletin provides multiple links to the updated documentation released by the departments of DOL and HHS, including the updated SBC template, both blank and pre-filled, instructions how to complete the updated SBC, and guides to calculate the coverage examples within the updated SBC.

Contact your Cowden representative for more information on this or other compliance issues.