Trump administration releases health care transparency rules

Between the lines: The hospital price transparency rule, which requires the disclosure of negotiated rates, is final and will be implemented in January 2021 — if it withstands the legal challenges that will almost certainly be made against it.

• A second rule, which requires insurers to tell patients their out-of-pocket obligations ahead of time, was proposed, giving the industry time to fight its finalization.

Details: Hospitals will be required to make all of their charges public in a machine-readable file, including payer-specific negotiated rates, the amount the hospital will accept in cash for a service, and the minimum and maximum negotiated rates.

• Hospitals will also be required to release the same information for 300 shoppable services in a consumer-friendly method, meaning one that patients can use.

• The rule gives the Centers for Medicare and Medicaid Services the authority to fine hospitals that don't comply $300 per day.

Insurers, under the proposed rule, would have to offer enrollees personalized information about their cost-sharing obligations for all covered services.

• Insurers would also have to disclose their negotiated rates for in-network providers and what they'll pay for out-of-network providers.