Today the Trump Administration finalized the Tri-Department (HHS, DOL and Treasury) regulation requiring insurers and other group health plans to post on a public web site three files each month: 1) in-network contracted rates with every provider for every covered service, 2) out-of-network historical allowed amounts paid, and 3) drug prices, net of discounts, rebates and other kickbacks, by pharmacy. The effective date for the rule will be January 1, 2022. Expect insurers to sue as the hospitals have done over their own similar rule (so far unsuccessfully). But here’s hoping that the courts recognize the authority of the Departments to protect patients from the price gouging, surprise billing and other market distortions caused by secret prices.
Read the fact sheet.
Read the final regulation.