On January 17, 2019, the Department of Health and Human Services (HHS) published the proposed Notice of Benefit and Payment Parameters for 2020. The notice includes important final rules and parameters for the operation of the individual and small group health insurance markets in both 2020 and potentially 2021. This paper summarizes key provisions of the proposed notice, and other related information recently released by HHS. The comment deadline is February 18, 2019. Typically, it takes at least 30 days for HHS to prepare and finalize the Payment Notice.