Web Benefits Design Creates Easy-to-Use Summary of Benefits Software Solution for the Insurance Industry

ORLANDO, Fla., June 25, 2012 /PRNewswire/ -- Web Benefits Design Corporation has launched its QuickSBC software to assist the medical insurance industry with the new Summary of Benefits and Coverage requirement. 

Starting September 23, 2012 insurance companies are legally required to provide all consumers with standard documents to explain medical insurance coverage. The newly required document is called the Summary of Benefits and Coverage (SBC) and consists of an 8-page document that must also be accompanied by a 4-page Glossary of Health Coverage and Medical Terms.

"This new law is great for the consumer," said Ron Schenk, Web Benefits Design CEO. "We have been simplifying and distributing medical benefit information for over 11 years. The new law requires the insurance industry to create and distribute 3 billion new pages of documentation. By implementing our QuickSBC system, we hope to save the insurance industry (and reduce healthcare costs) by more than $500 million. QuickSBC allows insurers to fully comply with the new law at the absolute lowest cost and creates a more permanent electronic connection to their clients."

Insurance companies can take advantage of Quick SBC to meet the new requirements and avoid the aggressive penalties imposed by the new law. Companies not meeting the requirements are subject to a $1,000 fine per insured individual. 

Quick SBC offers Self-Service Document creation, Full-Service Document creation, Medical Plan Document Libraries, Full-Service Document Distribution, and Compliance Certificates for Employers and carriers. The system is free to use to get started. Simply visit www.quicksbc.com to request a free account.

About Web Benefits Design Corporation:

Web Benefits Design Corporation provides medical benefit communication tools, employee benefit websites, benefits administration software and tools, printed employee benefit materials, COBRA management services, and employee benefit management services.

To find out more about Quick SBC, please visit www.quicksbc.com.

To find out more about Web Benefits Design Corporation, please visit www.wbdcorp.com.

If you would like more information about this topic, please contact Joy Lewis, Media Relations at (407) 480-5825 or via email at [email protected].

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SOURCE Web Benefits Design Corporation