On May 7, 2020, the Department of Health and Human Services (HHS) filed its final Notice of Benefit and Payment Parameters for 2021. This final rule describes benefit and payment parameters under the Affordable Care Act (ACA) that would be applicable for the 2021 benefit year.
Finalized standards included in the rule relate to:
- Annual limitations on cost-sharing;
- The required contribution percentage for catastrophic coverage eligibility; and
- Special enrollment periods (SEPs) in the Exchanges.
HHS did not finalize any changes to the current automatic re-enrollment process discussed in the proposed rule, after receiving opposition to these proposed changes during the comment period.
The provisions included in this final rule generally apply for the 2021 benefit year. Employers may review the HHS Fact Sheet and this Compliance Bulletin for an overview of the new standards.
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