The U.S. Departments of the Treasury (Treasury), Labor (DOL) and HHS published proposed regulations in the Federal Register on August 22, 2011, regarding PPACA's Summary of Benefits and Coverage and Uniform Glossary disclosure requirements. These proposed regulations are effective March 23, 2012.
Under PPACA, group health plans and insurance issuers in the group and individual markets must disseminate a Summary of Benefits and Coverage notice to current and potential participants and insureds at certain times. In addition, PPACA requires the development of a set of standard definitions for plans and issuers to make available to participants and insureds. Both of these requirements are intended to provide individuals with a better understanding of their health coverage and coverage options.
The proposed regulations provide guidance on the content and timing requirements of the Summary of Benefits and Coverage and Uniform Glossary disclosure obligations. Group health plan sponsors and insurance issuers must familiarize themselves with these requirements prior to their March 23, 2012, effective date. In addition, Treasury, DOL and HHS invite comments to the proposed regulations. All comments are due on or before October 21, 2011.