Employers are worried the proposed federal requirements on employee benefits communication could cause greater financial stress on businesses by demanding additional administrative work in an effort to remain compliant, says HighRoads, a benefits management and Employee Retirement Income Security Act compliance firm.
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Based on the current guidelines, summary plan descriptions (SPDs) are required to be distributed to employees regarding their health plan coverage, and the Department of Health and Human Services is proposing a Summary of Benefits and Coverage (SBC) that would create thousands of new summary documents, which, in some cases, would be duplicative of SPDs.
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