Here are six takeaways:
1. CMS also posted group and individual market SBC instructions and a uniform glossary of medical terms and health coverage.
2. The agency also posted a final coverage example calculator, equipped with calculator instructions.
3. Plans with open enrollment periods starting after April 1, 2017 should use SBC. Additionally, health plans, including small group, large group, individual, insured and self-insured, grandfathered, ACA complaint and transitional, should use the 2017 SBC.
4. SBC aims to give consumers a consistent format detailing health plan benefits so they can readily compare health plans. It also will help consumers better understand and utilize their coverage.
5. The updated SBC added a new coverage example, as well as new requirements for information about services a deductible covers. The 2017 SBC also features limitations and exceptions for coverage.
6. In the final SBC template, an electronic SBC can be fully hyperlinked into the uniform glossary.
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