The Final 2025 Notice of Benefit and Payment Parameters: Implications for States

By Sabrina Corlette and Jason Levitis

On April 2, 2024, the Centers for Medicare & Medicaid Services (CMS) released the final Notice of Benefit and Payment Parameters (NBPP) for 2025. This annual rule governs core provisions of the Affordable Care Act (ACA), including operation of the health insurance Marketplaces, standards for health plans, insurance brokers (including web-brokers), and the risk adjustment program. In a recent Expert Perspective for the State Health & Value Strategies program, CHIR’s Sabrina Corlette and the Urban Institute’s Jason Levitis provide an overview of provisions of the rule that have implications for state-based Marketplaces and state departments of insurance.

Read the full Expert Perspective here.

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