Final Rule on Price Transparency for Private Insurance

In this final rule, the Department of Health and Human Services (HHS), the Department of Labor, and the Department of the Treasury are requiring individual and group health insurers, by 2023, to offer online tools for consumers to estimate how much they will have to pay out-of-pocket for health care items and services before receiving care.  The rule also requires that by 2022 insurers publically display their negotiated rates for in-network providers; their historical payments to out-of-network providers; and their in-network negotiated rates and historical net prices for prescription drugs.