Park City, Utah (PRWEB) December 03, 2013
Today, Zane Benefits, the number one online small business health benefits solution, published new information on summary of benefits and coverage in 2014.
According to Zane Benefits’ website, with the end of the year approaching and new plan years starting, it's time again for many employers to distribute the Summary of Benefits and Coverage (SBC).
The SBC summarizes the key features of the health plan, such as the covered benefits, cost-sharing provisions, and coverage limitations and exceptions.
The requirement for plan or issuers to provide the SBC started last year. The SBC must be provided beginning on the first day of the first plan year that began on or after September 23, 2012.
Per HHS regulations, the SBC must be offered during the following events:
The SBC must contain specific information summarizing key features of the plan and coverage, including:
The SBC is required for both grandfathered and non-grandfathered plans in the insured and self-funded market, as well as the individual market.
About Zane Benefits
Zane Benefits was founded in 2006 to provide a revolutionized SaaS (Software-as-a-Service) administration platform ("ZaneHealth") for defined contribution health care. The flagship software provides a 100% paperless administration experience to small businesses and insurance professionals that want to offer better health benefits without a traditional group health insurance plan at lower costs. For more information about Zane Benefits, visit http://www.zanebenefits.com.