On Feb. 29, 2016, the Department of Health and Human Services (HHS) released its final Notice of Benefit and Payment Parameters for 2017.
For 2017, the rule increases the ACA’s out-of-pocket maximum to $7,150 for self-only coverage and $14,300 for family coverage.
The rule sets individual coverage open enrollment periods for these benefit years:
• 2017: Nov. 1, 2016 to Jan. 31, 2017
• 2018: Nov. 1, 2017 to Jan. 31, 2018
• 2019 and beyond: Nov. 1 to Dec. 15 of the prior year
The rule also creates a new Exchange model for state-based Exchanges using the federal platform and establishes six standard plan options in the individual federal Exchanges.
If you have questions about how these changes may impact you, please contact us!