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New Transparency Requirements for Health Plans

AssuredPartners

The Transparency in Coverage Final Rule On October 29, 2020, the U.S. This rule, entitled Transparency in Coverage, requires group health insurance carriers and self-insured plans to disclose rates and cost-sharing information for all covered items and services. Papers copies must be made available upon request.

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New Health Plan Prescription Drug Reporting Mandate

AssuredPartners

For fully insured plans, health insurance carriers will be responsible for making the necessary reporting from a legal standpoint. Finally, plan sponsors and insurers must report any reduction in premiums and out-of-pocket costs associated with these rebates, fees, or other remuneration.