Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
The Medicare Advantage Cost Transparency Act requires Medicare Advantage insurance plans to include additional financial and service information when they submit encounter data to the federal government starting January 1, 2027. Specifically, plans must report the allowed amounts charged for medical items and services, the cost-sharing amounts patients pay such as copayments and deductibles, and whether patients received in-home health risk assessments from affiliated or non-affiliated assessment companies. This bill affects Medicare Advantage plans and their enrollees by increasing transparency around costs and health assessments. The legislation does not establish new funding but instead imposes new data reporting requirements on existing Medicare Advantage plans. The changes take effect for plan years beginning on or after January 1, 2027.
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