Watch for Group SBCs Starting on September 28
Starting on September 28, watch the Employee Benefits website for a Message Center alert directing you to your 2016 Summary of Benefits and Coverage (SBC) documents.
The SBC is a key disclosure that gives your employees information about NRECA medical, dental, and vision plans so that they can compare plan features and make coverage decisions. Your cooperative will receive an SBC for all medical plans. Also, if your co-op pays 100% of the premium for the NRECA Dental Plan or the NRECA Vision Plan, you will receive dental and vision SBCs (except for VSP vision plans), as appropriate. You must give the SBC to all participants and employees who are eligible for these plans at the same time that you distribute annual enrollment materials or by November 1, 2015, whichever is earlier.
Note that SBCs will be released as your proposals are processed. This means that your co-op may not receive an SBC for all of your 2016 Plans at the same time. Rather, you will receive them between September 28 and approximately October 16.
Distribute and acknowledge SBCs
You’ll find your SBCs on the Employee Benefits website in the section entitled Summary of Benefits & Coverage. A link in the Message Center alert also takes you there.
For complete information about your SBCs, including which plans receive them, when to distribute them to employees, and electronic distribution guidelines, review the section about SBCs in the Help & Resources section of the Employee Benefits website.
You’ll also find a list of SBC Frequently Asked Questions in the Documents for Co-ops section of the Employee Benefits website.
Once you’ve distributed the SBCs, fill out the acknowledgment form on the Employee Benefits website. Follow the link in the original SBC notification alert. You also can go directly to the acknowledgment form on the Employee Benefits website on the Summary of Benefits & Coverage Distribution page. You can acknowledge distributing SBCs for multiple plans in one step.
If you have any questions about distributing your SBCs, contact benefits compliance at 866.673.2299, option 7, or at group.compliance@nreca.coop.