The May 2025 Compliance Deadline
I refer to this as a “New Rule” to get things started, but in reality, the regulation has been in place since 2019—it just hasn’t always been enforced. What’s new? As of now, all healthcare organizations must be fully compliant by the end of May 2025.
What Compliance Requires
The Department of Health and Human Services (HHS) is now taking swift action to enforce these price transparency rules. Compliance means:
- Hospitals and health plans must disclose actual prices, not estimates.
- Healthcare pricing information must be standardized and easy to compare.
- Enforcement policies will be updated to ensure accurate and complete price reporting.
Why This Rule Matters
This regulation is a huge win for consumers because it makes healthcare pricing more transparent and accessible. Here’s how it benefits patients:
- Informed Decision-Making: Know the real cost before receiving care.
- No More Surprise Bills: Avoid unexpected medical expenses.
- Easy Price Comparisons: Compare costs across hospitals and insurance plans.
- Encouraging Competition: More transparency can lead to lower prices.
Ultimately, this rule empowers patients and promotes a fairer, more competitive healthcare system.
Learn More
For more details, check out the official sources:
Choosing the Right Medicare Plan
Before selecting a Medicare Advantage or Supplement plan, make sure you have a solid understanding of Medicare itself. Don’t settle for a sales pitch from a single company or an agent tied to only one provider.
At More Plans More Choices, I provide side-by-side comparisons from multiple insurance carriers. More carriers = more plans = more choices!
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