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Reminder: Summary Annual Reports Due September 30

Posted on September 19 2017 05:08 PM

Model Language Available

As a reminder, health plans with 100 or more plan participants at the beginning of a plan year are generally required to furnish a Summary Annual Report (SAR) to each health plan participant within 9 months after the end of a plan year. As a result, the deadline for most calendar year plans to satisfy the SAR requirement for plan year 2016 is September 30, 2017.

What Must be in an SAR?
An SAR serves as a narrative summary of the group health plan's Form 5500 annual financial report. In general, an SAR furnished prior to September 30 must provide the following information on plan year 2016 (among other things):

  • Name of the insurer
  • Total premiums paid 
  • Value of plan assets at the beginning and end of the plan year
  • Amount of plan expenses 

Is a Model Notice Available?
While the U.S. Department of Labor has not released a model Summary Annual Report document, federal regulations provide model language. To review this model language, click here and see the section titled "Form for Summary Annual Report Relating to Welfare Plans."

Our Benefits Notices Calendar section provides additional information on federal notice requirements.