By Sheena Harrison, Crain News Service
WASHINGTON (April 1, 2015) — The U.S. Department of Labor said March 30 it has delayed a deadline for providing new summary of benefits and coverage statements to group health plan members under federal healthcare reform rules.
The healthcare reform law requires group health plans and health insurers to provide summaries of benefits and coverage that “accurately (describe) the benefits and coverage under the applicable plan or coverage” during open enrollment periods. The labor department, the U.S. Department of Health and Human Services and the U.S. Treasury issued a notice of proposed rulemaking in December that would have required new summary regulations, templates and associated documents to begin being used as of Sept. 1, 2015.
However, the labor department said March 30 that it expects plan summary templates and documents to be finalized by federal departments in January 2016, and that the forms will apply to insurance coverage that renews or begins on or after Jan. 1, 2017.
This report appeared on the website of Crain's Business Insurance magazine, a Chicago-based sister publication of Tire Business.