Federal Agencies Propose Amended Rules Relating To Price Transparency Reporting Requirements

The Internal Revenue Service (IRS), the Employee Benefits Security Administration (EBSA), and the U.S. Department of Health and Human Services (HHS) have proposed rules on price transparency reporting requirements. The proposed rules would amend existing rules under the Public Health Service Act, the Employee Retirement Income Security Act (ERISA), and the Internal Revenue Code.

The proposed rules would affect non-grandfathered group health plans and health insurance companies that offer non-grandfathered group and individual health insurance plans. The purpose of the proposed rules is to provide more standardized, accurate, and accessible pricing transparency for the public. Among the changes are adding new data elements, changing reporting levels, increasing reporting periods, and reducing reporting frequency. Other amendments would improve the ability to locate publicly disclosed machine-readable files required by the Transparency in Coverage rules. As per the No