An SPD is a detailed summary document from your insurer or health plan that explains how your health insurance plan works, including information on your participation rights, eligibility, benefits, and how to file a claim. It is described by some as a sort of owner’s manual for your health benefits.
Some individuals confuse an SPD with an SBC (Summary of Benefits and Coverage). However, your SPD is more detailed, and it is required by law for health plans subject to ERISA.