The Summary Plan Description And Other Information To Which You Are Entitled
The Summary Plan Description -- Required Content
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There are extensive regulations about just what should be in a Summary Plan Description (SPD).
- The SPD must be written in understandable language without jargon or technical complexity.
- The SPD must contain a definition of terms either in a separate section or throughout the body of the document. Terms must be defined and used consistently.
- The SPD must contain a description of the main points of the Plan, including:
- A complete description of the benefits, such as:
- Your specific benefits.
- If health insurance is involved, the amount of deductibles, co-pays and coinsurance.
- Exclusions and limitations.
- Plan Number.
- Plan Year, including the anniversary date of the plan, often January 1.
- Type of Plan: This will tell you whether it's a health plan or dental plan or life insurance, etc.
- The identity of the Plan Administrator.
- A section that is usually labeled "ERISA Information" or "Your ERISA Rights." The section should list your rights under the Plan and give the time limits on appeals.
- The SPD must include who to serve legal documents on in case you sue under the Plan.
Summary Plan Descriptions generally also let you know whether the plan is insured by an insurance company or self-funded by the employer or union.
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