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All glossary terms
Plan design

SBC

Also called: Summary of Benefits and Coverage

Definition

A standardized plain-language summary of what a health plan covers and what it costs. Federal law requires every health plan in the U.S. (group, individual, marketplace) to provide an SBC in a uniform 4–8 page format with the same line items, in the same order, so plans can be compared apples-to-apples.

For brokers

The SBC is the document brokers spend the most time transcribing. Velora's SBC parser pulls the 22 plan-design fields (deductibles, copays, coinsurance, OOP max, Rx tiers) directly from the PDF, with per-field source-page references for verification.

Authority source

29 CFR § 2590.715-2715

Related in plan design

SPD

The detailed legal document that describes how a self-funded ERISA health plan operates — eligibility, contributions, claims procedures, appeals, fiduciary roles.

RFP

A document an employer (or their broker) sends to carriers asking for medical / dental / vision / ancillary plan quotes for a renewal cycle.

Deductible

The dollar amount a plan member pays out-of-pocket each year before the plan starts paying for covered services.

OOP max

The most a plan member can pay out-of-pocket for covered services in a plan year.

Velora speaks the broker domain natively.

SIC, enrolled lives, renewal month, current carrier — every term in this glossary corresponds to a field Velora's outbound engine actually uses for targeting, segmentation, and cadence selection.

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