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Summary of Benefits and Coverage

The Affordable Care Act (ACA) requires health plans and health insurance issuers to provide a summary of benefits and coverage (SBC) to applicants and enrollees. The SBC requirement applies to both grandfathered and non-grandfathered plans.

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Pay or Play Penalty – Multiemployer Plans

Beginning in 2014, the Affordable Care Act (ACA) imposes “pay or play” requirements on large employers. Under these requirements, large employers that do not offer health coverage to their full-time employees and their dependents, or that offer coverage that is either unaffordable or does not provide minimum value, may be subject to a penalty. This penalty is also referred to as a “shared responsibility payment.”

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Important Effective Dates for Employers

On March 23, 2010, President Obama signed the health care reform bill, or Affordable Care Act (ACA), into law. ACA makes sweeping changes to the U.S. health care system. ACA’s health care reforms, which are primarily focused on reducing the uninsured population and decreasing health care costs, will be implemented over the next several years.

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