What is the purpose of a "summary of benefits and coverage" (SBC)?

The purpose of a "summary of benefits and coverage" (SBC) is to provide clear and standardized information about a health insurance plan. This document is designed to help consumers easily compare different health plans by summarizing essential features such as coverage details, limitations, and exclusions in a way that is straightforward and comprehensible. The SBC ensures that all plans present their information consistently, making it easier for individuals to make informed decisions regarding their health insurance options.

While outlining premium costs, including contact details for customer support, and summarizing claim procedures are important aspects of a health insurance plan, they do not capture the primary role of the SBC, which is to offer a concise summary that enhances transparency and understanding for consumers.