May 3, 2013 Legislative Update Federal Government Releases Updated FAQs on Summary of Benefits and Coverage The U.S. Departments of Health & Human Services (HHS), Labor and Treasury on April 23 issued a series of Frequently Asked Questions (FAQs) that are intended to answer questions that states may have about Affordable Care Act-related subjects, including the Summary of Benefits and Coverage (SBC). The FAQs provide guidance on the preparation of SBCs for use during the “second year of applicability” – defined as documents provided in connection with group health plan and group and individual health insurance coverage, beginning on or after Jan. 1, 2014, and before Jan. 1, 2015. Topics addressed by the FAQs include: |