6 Steps for Employers to Get Ready for Cost Transparency

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After years of remaining buried beneath red tape, a federal mandate issued in late 2020 seeks to, at last, bring U.S. healthcare costs into the light of day. Published jointly by three federal agencies, the final Transparency in Coverage Rule aims to allow Americans to more accurately predict their healthcare costs by helping them find and filter care providers within their network and location and with respect to the amounts paid toward their deductible and out-of-pocket maximum.

Source: Ketstar / shutterstock

The final Transparency in Coverage Rule requires group health plans and insurance issuers to make:

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