At the end of December the Consolidated Appropriations Act was enacted including $900 billion package providing funding to individuals and businesses.
As of January, hospitals are required to post their prices online in effort to promote price transparency. If you review one of these lists it can be quite daunting. The lists I have reviewed are very large documents that include billing codes, short abbreviations of services which are hard to discern as well as being separated by insurance carrier which all provide different discounts for services.
This is certainly not a quick fix scenario but I believe this is a step in the right direction and transparency is very important for both employers and employees moving forward.
This month’s Benefits Buzz discusses the employee benefits provisions contained in the Consolidated Appropriations Act and the 2020 calendar year ACA reporting deadlines in early 2021.