2024 Maximum Annual Limits on Cost-Sharing
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 notice outlines the upcoming annual maximum cost-sharing on the amount that an enrollee in a non-grandfathered health plan, including self-insured health plans, must pay for essential health benefits through cost-sharing.
The 2024 ACA annual limit on cost-sharing will increase to $9,450 for self-only coverage and $18,900 for coverage other than self-only. As reference, the 2023 final cost-sharing limits are $9,100 (self) and $18,200 (other). In general, cost-sharing includes deductibles, coinsurance, copayments, and any other required expenditure that is a qualified medical expense with respect to essential health benefits covered under the plan.
Benecon will continue to monitor this issue and provide updates as we receive them.