Trump Administration Releases Transparency Rule in Hospital Pricing

A first in the healthcare industry, the Trump administration is moving forward with their plan to force hospitals and insurers to provide transparency in their cost information to consumers in advance. This will cause a major shake-up in the healthcare industry, with supporting and opposing viewpoints. But how will this affect both the consumers and the insurers going forward?

Contact us to learn more.

 

Trump Administration Releases Transparency Rule in Hospital Pricing

Wall Street Journal

Insurers would also have to create a web-based tool for beneficiaries that discloses the list price, the negotiated rate, cost sharing, and the amount left on a plan deductible, as well as allowable out-of-network rates, officials said. There will be a 60-day public comment period on the proposal.

The proposal also states that “price transparency may have the opposite effect because in some markets where pricing is very transparent, pricing can narrow and average costs can increase.”

Read More: https://www.wsj.com/articles/trump-administration-releases-transparency-rule-in-hospital-pricing-11573825649?mod=djemalertNEWS

Recent Posts

Specific Stop Loss: How It Works

HOW IT WORKS Specific Stop Loss (or Individual Stop Loss): The Stop Loss Carrier and the Owner will agree to a threshold where once an individual member’s claims exceed that amount, the Stop Loss Carrier will assume responsibility for claims paid for services incurred...

Getting the Product Right Is More Than Innovation

Getting the product right builds trust between you and the consumer. But what exactly does it mean to get the product right? With varied industries throughout the United States, is the “right” product available in a one-size-fits-all solution? Perhaps not in the way...