Clearing the Air on Transparency Regulations
Under the new Federal Transparency in Coverage and No Surprises Act rules, plan sponsors are now responsible for a variety of new reporting and disclosure requirements that aim to improve transparency within the health care industry. These new rules generally require group medical plan sponsors (e.g., employers) to increase transparency within their health plans by disclosing their health care costs and coverages to the government, the public and plan participants.
This webinar will help identify key health plan transparency requirements, including the prescription drug cost reporting requirement with which plans must comply by December 27, 2022. The webinar will also provide information regarding a plan sponsor’s ability to delegate some of these compliance requirements to third parties such as insurance carriers, third party administrators and/or pharmacy benefit managers.
Key items we will discuss:
- A brief overview of each transparency requirement applicable to group health plans and their effective dates
- Review of the machine-readable file posting requirements that were effective in July 2022
- Discussion of the prescription drug reports due in December 2022
- Review of price comparison tool requirements effective in 2023
- Highlight issues to consider if relying on third parties to comply with the requirements
Attend & Earn 1.0 SHRM and HRCI Credit
Presented by the Brown & Brown Regulatory & Legislative Strategy Group.
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