Distribute Group SBCs by November 1
November 1, 2019 is the deadline to give 2020 summary of benefits and coverage (SBC) documents to plan participants and beneficiaries. SBCs were released in September for distribution either with your annual enrollment materials or by November 1, if earlier.
Download your cooperative’s SBCs from the Group Plan Documents page of the Employee Benefits website. Review the distribution instructions online and check the electronic delivery requirements to see if your participants qualify to receive required notices electronically. If you haven’t done so already, give the SBCs to employees, retirees, directors, your retained attorney, surviving dependents and COBRA plan participants who are eligible for the group benefit plans you will offer next year.
Once you’ve distributed the SBCs, fill out the acknowledgment form on the Employee Benefits website. You can acknowledge distributing SBCs for multiple plans in one step.
The SBC is a required notice for your co-op’s NRECA medical plans and certain NRECA dental and vision plans. It helps plan participants compare their group benefit plan coverage options. Your co-op should have received an SBC for:
- All NRECA medical plans effective for January 2020;
- Stand-alone wellness programs; and
- NRECA dental and vision plans (but not the NRECA VSP Vision Plan) where your co-op pays 100% of the premium
If your co-op offers either health flexible spending accounts or health reimbursement arrangements, you must create your own SBC; you may do so using the model notices linked above.
If you have any questions about distributing your SBCs, contact the benefits compliance team at 866.673.2299, option 7, or at group.compliance@nreca.coop.