News: Government agencies finalize updates to insurer transparency requirements

Multiple changes to transparency in coverage requirements for insurers were finalized October 5 by the Departments of the Treasury, Labor, and Health and Human Services. The joint effort finalized changes to Transparency in Coverage, changing insurer machine-readable files to improve accessibility, usability, and accuracy of the data, including through improved compliance enforcement.

The rule also changes insurers’ consumer pricing tool requirements that provide personalized cost estimates. These changes stem from an executive order issued last year on price transparency and guidance documents.

Editor’s note: To read the final rule, click here. To read additional coverage from the American Hospital Association, click here.