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New health plan summaries required in 2012

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in Compensation and Benefits,Human Resources

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.


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