While President-elect Joe Biden’s administration will likely move forward with some type of health insurer price transparency regulation, industry insiders say the new policy will likely differ from the rule the Trump administration recently finalized (HPW 11/6/20, p. 1).
“I think that the [new] administration will take a step back and think carefully about what makes the most sense,” Avalere Health Founder Dan Mendelson tells AIS Health. Mendelson doubts that the Trump administration rule will actually have an impact at the consumer level. Under the rule, by January 2023 health plans must offer members online shopping tools that allow them to see the negotiated rate between their provider and their plan, as well as a personalized estimate of their out-of-pocket cost for 500 of the most shoppable items and services. Effective one year later, those shopping tools will have to show the costs for all remaining items and services.