SBC vs. SPD: Understanding Two Required Health Plan Disclosures
READ TIME: 5 MINUTES Employers sponsoring ERISA-covered group health plans are responsible for providing several required participant disclosures. Two of the most important—and most often confused—are the Summary of Benefits and Coverage (SBC) and the Summary Plan Description (SPD). Although both documents help employees understand their health coverage, they serve different purposes and are required […]
Read moreEmployee Financial Wellbeing as a Retention Strategy
For years, employee financial wellbeing meant helping workers prepare for retirement. Today, that definition is expanding. Employees are navigating higher living costs, student loan debt, rising healthcare expenses, and economic uncertainty while trying to save for both short- and long-term goals. As financial stress follows employees into the workplace, employers recognize that financial wellbeing is […]
Read moreUnderstanding the Medical Loss Ratio
READ TIME: 7 MINUTES When employers purchase fully insured health coverage, they expect premium dollars to be used primarily for employee health care, not excessive administrative costs or insurer profits. One of the Affordable Care Act’s (ACA) lesser-known consumer protection provisions helps ensure that happens through the Medical Loss Ratio (MLR) requirements. The ACA established a nationwide […]
Read morePCORI Fees Due July 31
Each year, certain employers sponsoring self-insured health plans must calculate, report, and pay the PCORI fee to the Internal Revenue Service (IRS). For policy or plan years that ended in 2025, the next filing deadline is July 31, 2026. What Is the PCORI Fee? The PCORI fee was created by the Affordable Care Act (ACA) […]
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