On November 12, 2020,the Transparency in Coverage Rule was finalized by the Departments of Health and Human Services, Labor and the Treasury. This rule goes into effect on July 1, 2022 and requires health insurers and group health plans to disclose negotiated prices and historical net plan allowable amounts for all covered items and services.
What this means for you;
~The rule dictates that this information for self-funded employers be posted publicly on your website, providing a link (url) for access. The link requires no password or user account.
~ HealthFirst will provide machine-readable files (MRFs) that include your in-network negotiated payment rates and historical out-of-network charges.
~ This information, updated monthly, for your plans will be hosted on a webpage specific to your company.
~ This webpage will contain a link to access the MRFs. Access your plan information at:
MRFs will be available by the end of the day on July 1, 2022.