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HHS and CMS release 2024 out-of-pocket expense limits

By Maureen Gammon and Benjamin Lupin | December 21, 2022

Employer sponsors of group health plans should note the maximum annual dollar limits on cost sharing that can be imposed for 2024.
Health and Benefits
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The U.S. Department of Health and Human Services (HHS) and the Centers for Medicare & Medicaid Services (CMS) have issued the 2024 annual dollar limits on cost sharing. The maximum annual limitation on cost sharing that a group health plan can impose for 2024 is $9,450 for individual coverage and $18,900 for family coverage (compared with $9,100 and $18,200, respectively, for 2023).

As a reminder, under a new policy that begins in 2023, HHS will publish the premium adjustment percentage, maximum annual limitation on cost sharing, reduced maximum annual limitation on cost sharing and required contribution percentage by January of the year preceding the applicable benefit year (so by January 2023 for the 2024 benefit year). The guidance released by HHS and CMS reflects that new policy and sets forth the 2024 dollar limits.

CMS also issued the proposed Notice of Benefit and Payment Parameters for 2024 (including a fact sheet).

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Senior Regulatory Advisor, Health and Benefits

Senior Regulatory Advisor, Health and Benefits

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