A lot of things are taking place in the Massachusetts healthcare over the next couple of years. Okay, here are just some of the things that would take place in the year 2012 – that is, if the world does not come to an end. If you are fully insured, a lot of this will take place automatically: translation, you will be the one paying for the compliance, while your carrier will do the work for you. From January 1st 2013, you will be the one who will be responsible for reporting the cost of your health plan. But, if you are self funded, you may be required to do some of this by yourself. The chief provisions that require attention in 2012 actually relate to the following:
Summary of Benefits & Coverage (SBC)
Sponsors of self insured health plans and insurers will be required to provide a Summary of Benefits & Coverage to all applicants and participants, this will be based on a format that was set by Health and Human Services (HHS), utilizing standardized definitions.
Advance Notice of Mid-Year Modifications
Insurance and health plans will be required to offer 60 day advance notice of modifications that will affect SBC’s content. » Read more: Health Plan Changes in 2012 Under the Obamacare
