Under the Affordable Care Act, what is the applicability date for the Summary of Benefits and Coverage and Uniform Glossary?
A) Jan. 1, 2012
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A) Jan. 1, 2012
Incorrect. Try again!
B) Feb. 15, 2012
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C) March 23, 2012
Incorrect. Try again!
D) There is no applicability date at this time
Correct.
Originally, the Patient Protection and Affordable Care Act required health plans and health insurance issuers to provide participants with a summary of benefits and coverage no later than March 23, 2012. But a recent FAQ issued by the Departments of Health and Human Services, Labor, and Treasury states that plans and issuers are not required to comply with the provision until final regulations are issued – a date which is undetermined at this time.
According to healthcare.gov, the proposed regulations provide rules implementing Affordable Care Act provisions that would ensure consumers have access to two forms that will help them understand and evaluate their health insurance choices. These forms include:
- An easy to understand Summary of Benefits and Coverage; and
- A uniform glossary of terms commonly used in health insurance coverage such as "deductible" and "co-pay"
To view the proposed template for the Summary of Benefits and Coverage, click here.
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