On April 18, 2019, the Centers for Medicare and Medicaid Services (CMS) released the final annual Notice of Benefit and Payment Parameters for the 2020 benefit year, also known as the 2020 Payment Notice. The rule reduces user fees for plans offered on HealthCare.gov, and encourages the use of lower-cost generic drugs, while improving market stability and consumer choice. To improve market stability, a key element of this final rule refines the risk adjustment program to improve the accuracy of the data used to calculate the program’s charges and payments to issuers. This program is designed to reduce incentives for insurers to avoid enrolling people with expensive health conditions.
CMS also issued the Final 2020 Letter to Issuers in the FFE which provides guidance to issuers that want to offer Qualified Health Plans on the FFE, as well as the Key Dates Charts for the 2019 Calendar Year. The Final 2020 Letter to Issuers is available here. The Final Rule is available here, and the fact sheet is available here.
For more information visit the McDermottPlus Payment Innovation Resource Center or contact Mara McDermott at firstname.lastname@example.org.