Parameters-Industry News

2023 Notice of Benefits and Payment Parameters

The Department of Health and Human Services (HHS) released its final Notice of Benefit and Payment Parameters for 2023. The rule details the benefit and payment parameters for the 2023 benefit year under the Affordable Care Act (ACA).

  • The 2023 maximum annual limit on cost-sharing is $9,100 for self-only coverage, and the limit is $18,200 for all other coverage.
  • The required contribution percentage is 8.17% for 2023.
  • Insurers in the federally facilitated Exchanges (FFEs) and state-based Exchanges using the federal platform (SBE-FPs) are required to offer standardized plan options beginning with the 2023 plan year.

It is noteworthy that HHS did not adopt standards prohibiting discrimination based on gender identity or sexual orientation in benefit design and marketing practices, by qualified health plans, or by states and Exchanges. The finalization of these provisions has been deferred to future rulemaking on ACA Section 1557.

For more information on the final rule, click here for the HHS fact sheet. For any questions regarding the updated parameters for the 2023 benefit year, please contact your dedicated Creative Benefits, Inc. team member.