Good news, starting September 23, health insurers and group health plans will be required to provide you with an easy-to-understand plan summary about a health plan’s benefits and coverage. This new regulation is designed to help you better understand and evaluate your health insurance choices; the forms will consist the Summary of Benefits and Coverage (SBC) and a Uniform Glossary.
Here’s what to expect:
- Easy reading: A short, plain language Summary of Benefits and Coverage, or SBC
- Definitions: A uniform glossary of terms commonly used in health insurance coverage, such as, “premium”, "deductible" and "copayment"
- Standardization: All insurance ...