Agencies Release Final Regulations Regarding Summary of Benefits and Coverage and Uniform Glossary Requirements

On February 9, 2012, the Departments of Health and Human Services (HHS), Labor (DOL), and Treasury (the agencies) jointly released final regulations and a guidance document to implement a provision in the Patient Protection and Affordable Care Act (Affordable Care Act) that requires all group health plans and health insurance issuers to provide consumers with two new disclosure forms to assist them in understanding and comparing their health coverage options. The new disclosure forms include:

A Summary of Benefits and Coverage (SBC); and
A Uniform Glossary (Glossary) of common health insurance words, such as “copay” and “deductible.”

The Aon Hewitt bulletin below focuses on the issuance of the SBC and Glossary to participants and beneficiaries, although the final regulations also require group health insurance issuers to provide the new disclosures to group health plans (and include details around that requirement).