CMS issues final rule on notice of benefit and payment parameters for 2016

The Centers for Medicare & Medicaid Services late this afternoon issued a final rule establishing the 2016 benefit and payment parameters standards for health insurance issuers and the new Health Insurance Marketplaces. The final rule sets forth payment parameters and provisions related to the risk adjustment, reinsurance and risk corridors programs; cost-sharing parameters and cost-sharing reductions; and user fees for federally-facilitated exchanges. It also includes provisions related to eligibility, enrollment, essential health benefits, qualified health plans, provider network adequacy, minimum essential coverage, quality improvement strategies and other areas. In addition, the rule finalizes the annual open enrollment period for 2016 to begin on Nov. 1, 2015 and run through Jan. 31, 2016. AHA submitted comments on the proposed rule. For more information on the final rule, see the CMS factsheet.