Implementation Date for New SBC Template Announced

The DOL recently announced in a new Frequently Asked Questions (?Ç£FAQ?Ç¥) that health plans and insurers will be required to use a new Summary of Benefits and Coverage (?Ç£SBC?Ç¥) template for plan years beginning on or after April 1, 2017. The DOL, along with the U.S. Departments of Health and Human Services and the Treasury, intend to ?Ç£expeditiously?Ç¥ revise the new SBC template based on comments they receive concerning the proposed template that was published last month. Interested parties may submit comments regarding the proposed SBC template until March 28, 2016. The FAQ is available?áhere.