Healthcare Price Transparency Rules

New Healthcare Price Transparency Rules Aim to Help Patients Compare Medical Costs

The Trump administration has finalized new healthcare price transparency regulations, which could make it easier for Americans to find out how much medical care will cost before they receive treatment. The rules, announced by the Centers for Medicare & Medicaid Services (CMS), require health insurers and employer-sponsored health plans to provide more standardized pricing information and expand the ways consumers can obtain information about their expected out-of-pocket expenses before they get a specific treatment. This will likely make it simpler for patients to compare prices and avoid unexpected costs. However, some question how the new price transparency information will be managed by the average American. The regulations will strengthen the federal Transparency in Coverage (TiC) requirements first launched during President Donald Trump's first term.

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