Will New Price Transparency Rules Have an Impact?

Will New Price Transparency Rules Have an Impact?

Sep 16, 2019 | Commentary, News

In response to President Trump’s June 24, 2019, executive order, the Centers for Medicare & Medicaid Services developed proposed rules that mandate “consumer-friendly” price transparency for hospitals.

Starting January 1 of 2020, hospitals will have to publish price information organized in a standardized way so patients will be able to do an accurate comparison of procedure pricing between hospitals. Hospitals will also be required to post all their payers specific negotiated rates, which are the prices actually paid by insurers, in that same format. (more…)

Pay or Play Penalties Will Increase for 2019 and 2020

Pay or Play Penalties Will Increase for 2019 and 2020

Sep 12, 2019 | Legislative Updates

On Sept. 11, 2019, the IRS updated their Questions and Answers (Q&As) on the employer shared responsibility rules under the Affordable Care Act (ACA), to include adjusted penalty amounts for 2019 and 2020. According to the FAQs, the penalty amounts will be increased as follows:

  • For calendar year 2019, the adjusted $2,000 amount is $2,500 and the adjusted $3,000 amount is $3,750.
  • For calendar year 2020, the adjusted $2,000 amount is $2,570 and the adjusted $3,000 amount is $3,860.

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