Medical bill The new rule would go into effect on or after January 1, 2023, giving health insurers plenty of time to prepare for the list of requirements (or challenge it in the courts). (Photo: Shutterstock)

The Trump administration has taken the drive for health care price transparency a step further with the finalization of a new rule that will require health insurers and self-insured health plans to share details on pricing and cost-sharing.

The Transparency in Coverage rule builds on another highly publicized rule that will require hospitals to post their prices starting in January. Under the new rule, insurers and employer-sponsored health plans will be required to post in-network and out-of-network negotiated rates, “including an estimate of the individual’s cost-sharing liability for covered items or services furnished by a particular provider,” according to the rule. Grandfathered health plans will be exempt.

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Emily Payne

Emily Payne is the current deputy editor for ALM's Business & Finance Markets and former managing editor for BenefitsPRO. A Wisconsin native, she has spent the past decade writing and editing for various athletic and fitness publications. She holds an English degree and Business certificate from the University of Wisconsin.

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