Rule requires health plans to submit prescription drug, health care spending data
The administration yesterday issued an requiring health plans to begin submitting annual information next year on prescription drug coverage and spending, including the most frequently dispensed and costliest drugs, and information on prescription drug rebates and their impact on premiums and out-of-pocket spending. The rule also requires health plans and issuers to report on total spending for health care services by type (e.g., hospital care, primary care, specialty care, prescription drugs and other medical costs, including wellness services); and premium and prescription drug spending by employers versus employees. The departments of Health and Human Services, Labor and Treasury will use the data to issue biennial reports on prescription drug pricing trends and the impact of prescription drug costs on premiums and out-of-pocket costs starting in 2023.