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Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through GFS Wealth Management Advisors, Inc. (GFS). Insurance products and services are offered and sold through individually licensed and appointed agents in all appropriate jurisdictions. Agents are associated with Ganim Insurance Consultants, Inc. (GIC). Kestra IS is not affiliated with Ganim Financial, GFS or GIC. Ganim Financial, GFS, GIC, and Kestra IS do not offer tax or legal advice. Any decisions whether to implement these ideas should be made by the client in consultation with professional financial, tax and legal counsel.
This site is published for residents of the United States only. Registered Representatives of Kestra Investment Services, LLC may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed. Not all of the products and services referenced on this site are available in every state and through every representative listed. For additional information, please contact our Compliance department at 737-443-2582.
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Final Notice of Benefit and Payment Parameters for 2020
Recently, the Department of Health and Human Services (HHS) released its final Notice of Benefit and Payment Parameters for 2020. This proposed rule describes benefit and payment parameters under the Affordable Care Act (ACA) that would be applicable for the 2020 benefit year. Standards included in the rule relate to:
- Annual limitations on cost sharing
- The individual mandate’s affordability exemption
- Direct enrollment in the Exchanges
- Special enrollment periods (SEP) in the Exchanges
HHS also sought comments on issues to address in the future, such as the practice of “silver loading,” the automatic re-enrollment process through the Exchanges and any additional measures that would reduce eligibility errors and potential government misspending. HHS noted that it intends to take the comments received in response to the proposed rule into consideration in future rulemaking.
Notable Changes for 2020
The out-of-pocket maximum (OOPM) will increase, and the ACA’s affordability exemption threshold will decrease for 2020.
- OOPM: $8,150 for self-only coverage and $16,300 for family coverage
- Affordability threshold: 8.24% of household income
The final rule also enhances direct enrollment through the Exchanges and establishes a new SEP for the Exchanges.