HHS, the Department of the Treasury and the Department of Labor issued the final rule today. They expect the more concise and comprehensible health plan language will also make it easier for patients and employers to compare health plans, according to the release.
The new health plan explanations will go into effective around Sept. 23, 2012, and consumers will gain access to two main documents:
1. A concise “Summary of Benefits and Coverage” that can be used as a comparison tool among other health plans.
2. A uniform glossary of terms commonly used in health coverage language, such as “co-payment” and “deductible.”
The final rule can be viewed in its entirety here (pdf).
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