The Obama administration proposed new rules in August that require employers and health insurers to give health plan participants a clearer picture of their benefits in plain English.
The rules propose a new template for the Summary of Benefits and Coverage (SBC) that may be no longer than four, double-sided pages. It must summarize the key features of the coverage options and contain three examples that illustrate what the plan will cover for common scenarios. The proposal calls for insurers to distribute these summaries by March 23, 2012.
Read more at www.tinyurl.com/summarybenefits.
- How to Fire an Employee the Legal Way: 6 Termination Guidelines
- Supreme Court to decide: Is health care reform law constitutional?
- Telework on the decline, thanks to down economy
- Use greater experience, extra skills to justify why you pay some employees more than others
- Oakland trucking company restores nearly $2M to 401(k)s