KevinMD May 17, 2024
Since January 1, 2023, the Transparency in Coverage Rule required health insurance providers and health insurers to provide price information to participants in a publicly accessible place. This means consumers should, in theory, be able to go to any payer’s website and see what different doctors, hospitals, and health systems are charging for the same services. The law was meant to allow consumers the ability to shop for health care services based on cost and, thus, hopefully, lower their health care expenditures.
What we have observed contrasts with what was intended. Insurance payers have been slow to follow the rule, with some plans outright not complying with it. Some health plans published a “data dump” of multiple terabytes of information...
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