New proposed rulings from CMS would require health plans to disclose pricing for all covered services, including prices negotiated with specific providers. The proposed cost of implementation is far greater than anticipated and brings concerns about the usefulness and how patients will interpret the information.
Insurers noted that while 94% of health plans offer transparency pricing tools to patients, the administrative cost of implementing rate disclosures will cost them millions.
"The proposed disclosure requirement does not further the statutory objective of promoting transparency in coverage," the American Hospital Association wrote. "The departments, therefore, lack the legal authority to compel the public disclosure of such highly sensitive and confidential pricing information."