Driven by concerns about health care expenditures and the difficulties individuals encounter in obtaining information in advance about the cost of healthcare goods and services, a new “Transparency in Coverage” rule (TCR) has been proposed and published in the Federal Register. The new rule would require two things from insurers: (1) a consumer tool that allows carrier members to identify their out-of-pocket costs for services or goods covered by their health carrier and (2) two publicly available machine-readable data files.
Partner Richard Manning, Principal Arun Sharma, and Economist Zachary Mozenter assessed the costs insurers are likely to encounter and compared those costs to what was published in the Federal Register. They conducted interviews with representatives from 18 insurance companies representing approximately 78 million members. Their findings are presented in this white paper.
