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Summaries of Benefits & Coverage (SBCs)

Summaries of Benefits & Coverage (SBCs)

A Summary of Benefits and Coverage (SBC) is a summary of the benefits offered under a group health plan using uniform terms and definitions. It provides information regarding deductibles, co-payments, out-of-pocket maximums, limitations and exclusions, renewability and continuation options, and coverage examples. The Affordable Care Act requires that group health plans and health insurance issuers provide participants with an SBC also mandate a separate "uniform glossary" document, which defines common health insurance terms and must be provided upon request. Employers who sponsor group health plans and health insurance issuers must provide SBCs to plan participants and eligible employees, and those employers are ultimately responsible for the SBCs content and distribution.

Both employers who offer the IBBP health plan and employers who offer the IBIS 105 Plan with an underlying IBBP health plan are required to distribute SBCs to all plan participants and employees who are eligible for the plan.

SBC Resources:

  • Summary of Benefits and Coverage (SBC) Questions & Answers - Provides specific details regarding SBCs distribution requirements. 
     
  • Employer SBC Memo Templates - A memo template an IBBP employer can customize and provide to participants and eligible employees along with the SBC.

    • Click here if you offer the IBBP Health Plan.
       
    • Click here if you offer the IBIS 105 Plan with underlying IBBP Health Plan.

  • IBBP Summary of Benefits Web Page - Provides links to the 2017 SBCs IBBP employers must provide to participants and eligible employees.

    • Click here to go to the 2017 IBBP Health SBC page with links to the 2017 SBCs for the IBBP Health Plans.
       
    • Click here to go to the 2017 105 SBC page with links to the 2017 SBCs for both the 105 Plans and the underlying IBBP Health Plans.
       
  • Glossary of Health Coverage and Medical Terms – The glossary employers must provide to plan participants and eligible employees upon request.

 


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Mid America Banking Insurance Services, Inc., a subsidiary of IBIS, provides insurance programs to banks outside of Iowa. 

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Iowa Bankers Mortgage Corp. (IBMC) offers the products & experience Iowa banks need in the secondary mortgage market.

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The Iowa Bankers Association (IBA) is dedicated to serving Iowa banks and their employees.

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