HHS Publishes Final Rule for Notice of Benefit and Payment Parameters
On March 1, 2013, the U.S. Department of Health and Human Services (HHS) released a final rule on the Notice of Benefit and Payment Parameters for state health Exchanges to protect individual and small business consumers. The new rule expands upon previous policies to clarify protection for individuals and small businesses, including:
- Ensuring people with pre-existing medical conditions have equal access to health insurance
- Details how HHS will facilitate lower, stable premiums for insurance while helping to protect insurance providers from fluctuating reimbursement costs
- Finalizing policies and timelines for the tax credits designed to help individuals and families offset the cost of purchasing insurance through state exchanges
Additionally HHS has published a proposed rule related to the state Exchanges and Small Business Health Options Program (SHOP) to establish a competitive market for small businesses and help ensure a small transition in 2014. HHS further plans to publish an interim final rule, with comments, to address the risk corridor calculations and to allow for a simplified method for calculating cost sharing rations during the transition to the new state exchanges in 2014.
Read the full CMS Fact Sheet: HHS Notice of Benefit and Payment Parameters