Transparency in coverage rule now in effect

As of July 1, 2022, The Transparency in Coverage rule, issued by the Centers for Medicare and Medicaid Services (CMS), requires insurance companies and employer plans, like hospitals to publish their actual prices online for the services and goods they provide.

Specifically, the Transparency in Coverage rule requires all providers to post their prices in a machine-readable file so data aggregators can deliver consumers accurate prices systemwide.

Not only will consumers be able to compare prices, but employers will also now have access to their companies' medical claims history so they can see old charges and avoid price-gouging providers in favor of lower-priced alternates

Finally, there will be real competition systemwide in healthcare, giving the American people the power to find the best quality care at the lowest possible, ultimately driving down the cost of healthcare.

To learn more visit our What Transparency in Cover Rule means to patients and Employers page.