As of July 1, employer-sponsored plans will be required to comply with transparency requirements first passed in 2020. But questions remain over whether these new rules will truly help consumers.
The Transparency in Coverage (TiC) rules have been some time in the making; the original deadline was January 1, but that was pushed to July 1. The new rules are part of a larger overall reform measure that includes provisions on "surprise billing" and other provisions intended to make health insurance more consumer accessible.
Although most of the changes required will be put in place by insurers and third party-administrators (TPAs), employers should be aware of the new requirements and include the necessary information about accessing the data in employee communications.
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