Plan Sponsors Working Diligently and in Good Faith on the Summary of Benefits and Coverage Will Not Face Penalties During the First Year

On May 11, 2012, the Departments of Labor, Health and Human Services and Treasury issued answers to Frequently Asked Questions (FAQs) about the new Summary of Benefits and Coverage (SBC) requirements of the Affordable Care Act.1 The FAQs are the ninth set of questions and answers about implementation of the Affordable Care Act.2 At the same time, the Departments issued a slightly revised SBC template, which was modified to make the format more readable.3

 

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