November 22, 2019

Price Transparency Rules Issued

On November 15, CMS announced a pair of rules designed to implement President Trump’s Executive Order on Improving Price and Quality Transparency in American Healthcare. The final price transparency rule will require hospitals to provide the public with clear, accessible information about their “standard charges.” This rule becomes effective on January 1, 2021, so that hospitals have time to comply with the changes. The proposed price transparency rule applicable to health plans and insurers, but excluding grandfathered plans and account base plans, requires insurers to disclose price and cost-sharing information up front.  The comment deadline for the proposed rule will be 60 days from publication of the rule in the Federal Register, which is currently scheduled for November 27.