Administration finalizes rule demanding clearer, machine-readable health-plan pricing
The administration issued a final rule that obliges health-care providers to publish monthly, machine-readable pricing files and to eliminate undisclosed negotiated rates.
A new regulation was signed on Monday requiring providers to post accessible pricing data for every plan they offer, in a standardized digital format updated each month. Insurers must also remove so-called “ghost rates,” which are hidden negotiated prices for services that were never delivered. The rule updates standards first set in 2020 to address problems with overly large files and hard-to-navigate data. Compliance is expected to improve price transparency for consumers ahead of upcoming elections.
Why it matters
Greater price transparency could help consumers compare health-care costs and pressure insurers to lower rates.
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