Year-End Appropriations Act Contains Key Transparency Provisions and New Requirements for Group Health Plans
This Alert is the last in a series of four Alerts on the year-end Appropriations Act (the Act) provisions that directly impact employer-sponsored group health plans. Last but not least, the Act contains key cost transparency provisions that apply to all group health plans and will require significant disclosures to participants, among other key compliance obligations. These provisions generally take effect for plan years beginning in 2022. As with the Act’s surprise billing provisions, compliance with these requirements will likely fall to insurers and third-party administrators (TPAs) (by contract), but group health plans should become familiar with the new obligations under these transparency rules and engage with their insurers and TPAs to understand how they intend to facilitate compliance.
This information is provided by the compliance team at Alliant Employee Benefits, Asinta’s Partner in the United States.