FAQs Provide Guidance on 2014 SBCs: You Get What You Get and You Don’t Get Upset
Plan sponsors must add a statement to the summary of benefits and coverage (SBC) for the 2014 plan year regarding whether the plan provides minimum essential coverage (MEC) and whether the plan meets the minimum value (MV) requirements, according to the fourteenth set of frequently asked questions (FAQs) released by the Departments of Labor, Treasury, and Health and Human Services (HHS) (the agencies) on April 23, 2013. The FAQs require very few additional changes for SBCs for the 2014 plan year, and extend for another year the safe harbors and enforcement relief provided for in previous guidance. The SBC requirements were established by the Patient Protection and Affordable Care Act (Affordable Care Act).
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