The Department of Health and Human Services (HHS), in conjunction with the Labor and Treasury Departments, released this morning the final rule for the standardized information forms insurance companies are required to provide to consumers under the Affordable Care Act. The new forms, which insurers will have to make available by September 23rd, “will ensure consumers have access to two key documents that will help them understand and evaluate their health insurance choices” according to the press release available at HealthCare.gov. These include:
- A short, easy-to-understand Summary of Benefits and Coverage ( or “SBC”); and
- A uniform glossary of terms commonly used in health insurance coverage, such as “deductible” and “co-payment.”
The full rule can be found here.
Sample template forms and the uniform glossary are available here.