Blue Cross and Blue Shield of Illinois

 

September 20, 2013

Legislative Update
New 2014 Summary of Benefits and Coverage Available Oct. 1, 2013

Under the Affordable Care Act, all health insurers and group health plans are required to provide consumers with a Summary of Benefits and Coverage (SBC). SBCs for plans beginning on or after Jan. 1, 2014, will be available in the SBC tool system on Oct. 1, 2013 on the new SBC template format.

The Departments of Health and Human Services (HHS), Labor and the Treasury issued a series of Frequently Asked Questions on April 23, 2013, that included the SBC update. The updates to the SBC template will include the following:

  • Annual Limit Row has been removed 
  • Minimum Essential Coverage (MEC) language added
  • Minimum Value (MV) Standard language added

If you need a 2013 template, you will still be able to access it via the plan year drop-down menu on the SBC Tool. 

Training documents outlining the SBC Tool using the plan year drop-down menu are coming soon.

Please send any questions you may have regarding SBCs to your account representative.

This communication is intended for informational purposes only. It is not intended to provide, does not constitute, and cannot be relied upon as legal, tax or compliance advice. The information contained in this communication is subject to change based on future regulation and guidance.

 

 

A Division of Health Care Service Corporation, a Mutual Legal Reserve Company,
an Independent Licensee of the Blue Cross and Blue Shield Association.