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ACA News: Out-of-Pocket Maximum Increases Announced for 2017

ACA Compliance News from CBG Benefits: 2017 Notice of Benefit and Payment ParametersOn February 29th, 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.

The ACA requires the out-of-pocket maximum to be updated annually based on the percent increase in average premiums per person for health insurance coverage:

  • For 2016, the out-of-pocket maximum is $6,850 for self-only coverage and $13,700 for family coverage
  • For 2017, the out-of-pocket maximum increases to $7,150 for self-only coverage and $14,300 for family coverage

For more details about the information released in the final notice, we encourage all clients to log-in to the CBGconnect portal and download the ACA Compliance Bulletin entitled “2017 Notice of Benefit & Payment Parameters.”

If you have any questions, please contact our team at 781-759-1222.

 

Image courtesy of renjith krishnan / FreeDigitalPhotos.net

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