A new Trump administration rule on drug pricing will require health insurers to publicly disclose their negotiated rates for prescription drugs, according to Kaiser Health News.
The requirements were outlined in drug-pricing rules CMS released Nov. 20. They are part of the White House's broader Oct. 29 rule to require health insurers to disclose their negotiated rates for medical services with providers.
Under the requirements outlined in the new drug-pricing rules, health insurers must give their members estimated out-of-pocket costs for prescription drugs and publish the prices they pay for drugs beginning in 2022, according to KHN. The changes don't apply to Medicare or Medicaid.
While the Trump administration said the changes will help patients make more cost-effective healthcare choices and increase competition, health insurer and pharmacy groups have denounced the changes, saying they will hurt competition and ultimately lead to higher prices.
Read the full KHN report here.