First things first, summary plan descriptions (SPD) and a summary of benefits and coverage (SBC) are NOT the same. They serve a similar function, but are separate compliance obligations for an employer.
Summary of Benefits and Coverage (SBC)
As of September 23, 2012, a SBC, which is a written summary that describes the health plan’s benefits and coverages, must be given to each participant, spouse, dependent, and prospective enrollee in a group health plan. The insurer and employer are responsible for distributing ...
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