Humana Cost Transparency Tool

You may be wondering…what a Cost Transparency Tool is and where did it come from.

In October 2020, HHS, Labor, and Treasury issued the groundbreaking “Transparency in Coverage” Final Rule (TiC), which requires most health plans to disclose extensive price and cost-sharing information in a set of two different required data disclosures: public disclosures and plan participant disclosures.

  • What does this new transparency rule hope to accomplish?
    • Empower, inform and incentivize action from consumers
    • Shine light on hidden business arrangements between payers and providers
    • Expose real-time pricing information and out-of-pocket liability
    • Create a foundation of pricing data standards
    • Enable comparison shopping
    • Stabilize and reduce the price of health care services
    • Establish a market-driven health care system
  • To obtain this information in helping you shop better for care please visit the Humana’s Transparency Tool.

As always, if you have any questions after reviewing the information described, please feel free to contact Corporate Benefits at benefits@hfecorp.com.