The Transparency in Coverage Rule takes effect January 1, 2022, with fines up to $100 per member per day for non-compliance. Employers, plan sponsors, TPAs, ASOs, and carriers need to align processes now to meet the federal requirements.
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People need to become familiar with and comply with the Transparency in Coverage Rule very rapidly. I mean, employers, plan sponsors, medical TPAs, or TPAs as they're called, need to get, get in line on this. As of January 1st, this coming up January 1st, 2022, Uh, there is a fine potential of $100 per member per day for non-compliance with these rules. And it's really intended to be a scary thing to try to get everybody to line up. There's a lot of work to be done in the supply chain. Employers have to contact their TPAs, their ASOs, their carriers, and ask them what they're going to do to help them comply with these rules so that they can avoid those those potential fines.