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New Transparency Requirements for Health Plans

AssuredPartners

The Laws Two federal laws that have been finalized in the last year require greater transparency regarding the cost of certain prescription drugs and medical services. The Transparency in Coverage Final Rule On October 29, 2020, the U.S.

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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.