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FSA contact: askpenny@chard-snyder.com
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***Transparency In Coverage-Machine Readable-File*** updated 10/1/2022
https://caa.Imagine360.com/BATESVILLE%20TOOL%20&%20DIE/index.html
Transparency in Coverage final rule requirements.
Under the Final Rule, certain plans and issuers must make machine-readable files available to the public for use by consumers, researchers, employers, and others. Grandfathered Health Plans, account-based group health Plans and short-term limited duration Plans are not required to comply.
The In-Network Machine-Readable File should include negotiated rates for all covered items and services between the plan or issuer and the in-network providers.
The Out-of-Network Allowed Amounts Machine-Readable File should contain historical payments to and billed charges from out-of-network providers.
For plan years beginning January 1, 2022 through July 1, 2022, enforcement will begin in July 2022. For plan years beginning after July 1, 2022, plans and issuers should post the machine-readable files in the month in which the plan year begins.