02/16/2023
NEW REPORTING REQUIREMENT
The No Suprises Act, which is part of the Consolidated Appropriations Act (CAA), addresses transparency in prescription drug pricing by requiring ALL group health plans to report a large amount of information about their Rx spending. Beginning with 2022 reference year, data must be reported annually by the following June 1st. With reporting being due this June 1st, 2023, it is important that you are aware of this new requirement. First, check with your health insurer or TPA to see what assistance they will provide. The following link is the RxDC main page that provides instructions and data templates.
Under Section 204 (of Title II, Division BB) of the Consolidated Appropriations Act, 2021 (CAA), insurance companies and employer-based health plans must submit information about prescription drugs and health care spending. This data submission is called the RxDC report. The Rx stands for prescripti...