Transparency in Coverage Rule
The Federal Government has finalized the “Transparency in Coverage” Rule, which requires health insurers and group health plans to provide cost-sharing data to consumers via machine-readable files. These files must provide pricing data for covered items and services based on in-network negotiated payment rates and historical out-of-network allowed amounts. Anthem, Silgan’s medical plan administrator, has provided a link to this information that will be active beginning July 1, 2022.
Another aspect of these guidelines requires a consumer price transparency tool. This online tool will include personalized, real-time, cost-share estimates for covered services and items.
These new transparency regulations were created to give access to information on the costs of healthcare services. This will better help better estimate and understand out-of-pocket expenses before they are incurred.
Please use Employer Identification Number (EIN) 061269834 to access this information.