A lack of transparency results in distrust and a deep sense of insecurity. - the Dalai Lama Peekaboo! In all the myriad codicils of 2010's Affordable Care Act, one fact stands out - market competition is the answer, and pricing transparency is a key driver of success. That's why, in October 2020, the U.S. Departments of Health and Human Services, Labor, Treasury, and the Centers for Medicare and Medicare and Medicaid Services (CMS) co-issued the "Transparency in Coverage" final Rule (TiC), which requires most employer-sponsored group health plans and commercial health insurance issuers offering group and individual coverage to disclose price and cost-sharing information to participants, beneficiaries, and enrollees, in advance.
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