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 2017 is
September 30, 2018.
What Must be in a SAR?
A SAR serves as a narrative summary of the group health
plan's Form 5500 annual report. In general, a SAR must provide the
following information on the plan year (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 SAR, 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."
Check out our Benefits Notices Calendar section for additional information on federal notice requirements.