Transparency in Reporting
As part of new regulation of The Patient Protection and Affordable Care Act (ACA), plans must provide cost transparency to participants and enrollees. The intent of the regulations is to provide a consumer with access to information on the cost of health care services before that consumer receives health care services, rather than after care is received. There are two main components – a requirement to provide personalized cost-sharing information and a requirement to make certain cost information publicly available. In addition to the final transparency regulations, the Consolidated Appropriations Act, 2021 (the CAA) contains additional transparency requirements. The link will become active on July 1st.
Posted: June 28, 2022