What is Transparency in Coverage Data?
The Transparency in Coverage Act (bill currently before congress) is a set of regulations that aim to increase transparency in health insurance coverage in the USA. The primary goal of the act is to provide consumers with clear, accessible, and actionable information about the cover that they receive from their health insurance. What services are included? How much will the insurer pay for a specific service? And how does this change from one provider to another? Or from one geographic region to another? Answers to these kinds of questions were previously hard, if not impossible, for a consumer to access.
In principle the information covered by the regulations should include costs, benefits, and other essential details. It should ensure that consumers can make informed healthcare decisions and understand the financial implications of their choices.
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