The Depart­ments of Labor, Trea­sury and Health/Human Ser­vices have joint­ly issued final reg­u­la­tions on the SBCs that all employ­ers are required to pro­vide their employ­ees to out­line the fea­tures of the med­ical insur­ance plans they offer. New rules are:


  1. An SBC may be issued pri­or to enroll­ment – no sub­se­quent notice is required
  2. If an enti­ty con­tracts with a third par­ty to pro­vide SBCs, they must mon­i­tor the third party
  3. Where mul­ti­ple prod­ucts are offered, the group health admin­is­tra­tor must issue the SBC
  4. Until the new tem­plate is issued, plans and issuers may use SBC under 2013 guidelines
  5. SBC may be pro­vid­ed elec­tron­i­cal­ly in con­nec­tion with their online enroll­ment or renewal
  6. Will­ful fail­ure to pro­vide required infor­ma­tion is sub­ject to a fine
  7. Final reg­u­la­tions effec­tive Sep­tem­ber 1, 2015