Transparency in Coverage
Sanford Health Plan is on track to implement compliance requirements for the federal Transparency in Coverage rule by July 1, 2022. The Transparency in Coverage rule is a federal regulation requiring insurers to make the costs of covered items and services available to our members and the public. Compliance with the rule will happen in three phases at Sanford Health Plan.
- PHASE 1: By July 1, 2022, Sanford Health Plan will post machine-readable files containing pricing information for covered items and services to our website. The files will be updated monthly.
- PHASE 2: By January 1, 2023, a price comparison tool will be available to members. The tool contains pricing for 500 medical items and services, so members can quickly get an estimate before receiving care.
- PHASE 3: By January 1, 2024, the price comparison tool will be enhanced to include pricing for all items and services.
As we approach phases 2 and 3, Sanford Health Plan will share additional information about the price comparison tools with you and our clients.
Details about the Transparency in Coverage Rule will be shared with fully insured and self-insured clients on Tuesday, June 28th.
If you have self-insured clients, their account executive will be contacting you with further information. For more on the Transparency in Coverage rule and how Sanford Health Plan is complying with it, view FAQs HERE.