In the fast-evolving landscape of healthcare and employee benefits, employers often find themselves navigating a labyrinth of choices and compromises. Health insurance serves as both a fundamental necessity for employee well-being and a persistent source of financial...
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?
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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.”
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