Legislative and Regulatory Updates
 On March 5, the Department of Health and Human Services released its final rule on the 2015 benefit and payment parameters. Provisions related to the ACA include risk-sharing mechanisms, cost-sharing reductions, federally facilitated exchanges, composite rating, the annual open enrollment period for 2015, the actuarial value calculator, the Small Business Health Options Program, and annual limits on cost-sharing for stand-alone dental plans. The rules will be effective on May 10.
The Department of the Treasury released two final rules on March 5 addressing information reporting under the ACA. The first rule requires providers of minimum essential coverage to report to the Internal Revenue Service (IRS) information about the type and period of coverage they are providing and to furnish related statements to covered individuals. The other final rule provides guidance to large employers on information that must be shared with employees and the IRS to comply with the employer shared-responsibility requirement and eligibility for premium tax subsidies. The two final rules became effective March 10.
President Obama announced on March 5 that individuals who wanted to continue their non-ACA compliant health plans would be allowed to do so for an additional two years. That same day, the Centers for Medicare & Medicaid Services issued a letter indicating that people with non-ACA compliant policies in the small group or individual markets would have until Oct. 1, 2016, to transition to new coverage.
The Obama administration on March 4 released its budget, which includes several aspects aimed at improving the sustainability of the Medicare program. These include provisions to:
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Adjust payment rates with costs for certain post-acute care providers;
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Increase income-related Part B and Part D premiums;
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Modify the Part B deductible for new beneficiaries;
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Introduce a Part B premium surcharge for new beneficiaries who have Medigap insurance coverage with low cost-sharing requirements;
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Strengthen the Independent Payment Advisory Board by lowering the target Medicare per capita cost growth rate.
The White House projects that these and other Medicare-related provisions would result in Medicare savings of $407.2 billion over 10 years.
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The Academy’s new public policy research partnership with the Health Care Cost Institute was highlighted by 
