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Greater Price Transparency as Health Insurers, Employers Offering Health Plans Must Provide Online Calculators For Detailed Estimates

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As of Jan. 1, health insurers and employers that offer health plans must provide online calculators for patients to get detailed estimates of what they will owe — taking into account deductibles and copayments — for a range of services and drugs.

Kaiser Health News reports on the latest effort to make prices and upfront cost comparisons possible in a business known for its opaqueness.  Insurers must make the cost information available for 500 nonemergency services considered “shoppable,” meaning patients generally have time to consider their options. The federal requirement stems from the Transparency in Coverage rule finalized in 2020.

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