On Feb. 29, 2016, the Department of Health and Human Services (HHS) released its FINAL NOTICE OF BENEFIT AND PAYMENT PARAMETERS FOR 2017. This rule describes benefit and payment parameters under the Affordable Care Act (ACA), applicable for the 2017 benefit year, including standards relating to:
- Annual limitations on cost-sharing; and
- The open enrollment period in the Exchange for 2017 and later years.
The rule also includes the following key changes for 2017:
- Incorporates new definitions of “large employer” and “small employer,” consistent with the Protecting Affordable Coverage for Employees (PACE) Act;
- Recognizes a new Exchange model; and
- Creates standardized benefit plan options in the federally facilitated Exchange (FFE).
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