As reported in the June 2012 Employee Benefits Update, the DOL, HHS, and the IRS (the Departments) have issued a new set of FAQs on PPACA about the SBC that plan sponsors are required to issue beginning with the first open enrollment beginning on or after September 23, 2012. In these FAQs, the Departments indicated that they were developing a calculator that plan sponsors could use as a safe harbor for the first year the SBC requirement is applicable. Because the calculator is less accurate, it is considered a transitional tool to assist plan sponsors in completing the coverage examples in a streamlined fashion for the first year. The calculator, instructions and algorithm are available at the Center for Consumer Information & Insurance Oversight website.
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The Departments provide a cost-sharing calculator for coverage examples on SBC
- Reinhart Boerner Van Deuren SC
- July 12 2012
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