On October 4, 2024, the Department of Health and Human Services (HHS) released the proposed Notice of Benefit and Payment Parameters (proposed Payment Notice) for 2026. The notice includes important proposed rules and parameters for the operation of the individual and small group health insurance markets in 2025 and beyond. This paper summarizes key provisions of the proposed notice and maximum out of pocket information recently released by HHS. Comments are due within 30 days of publishing in the Federal Register.