Transparency ReportEmail Us
Transparency Reporting Status Report
True Rx Health Strategists is providing this report to our clients and partners as a status update regarding the upcoming transparency reporting and other mandates imposed by both the Transparency in Reporting legislation and the requirements of the Consolidated Appropriations Act of 2021 (“CAA”). True Rx is aware of the responsibilities and burdens that have been imposed on us, our clients, and our partners. True Rx has been actively monitoring legislation, guidance, and government publications related to these requirements. There is still much guidance pending from the government, and we are actively watching for that guidance. True Rx has also, however, been proactive in preparing to respond to this legislation given the guidance that is currently available.
Consolidated Appropriations Act of 2021 (“CAA”) and Transparency in Coverage Regulations
Drug Price Reporting
The first report is due to the government agencies on 12/27/21 and then annually on 6⁄1 of each subsequent year. True Rx is currently amassing the data necessary to prepare this report. Further guidance, from the government, is necessary to fully prepare the report, however, True Rx will have the data ready once guidance is provided and the report then quickly generated. True Rx is again on course to meet the reporting deadline.
Machine Readable Price Reporting
True Rx has reviewed the regulations, the final rules regarding these regulations and the agency responses posted in the Federal Register regarding these regs. True Rx has formed an Action Team consisting of members from our IT, Data, Pharmacist and Operations teams to analyze the legislation, begin retrieving the necessary data and building the machine-readable reporting platform required for reporting purposes. This requirement becomes effective for plans beginning and/or renewing on 1/1/22. True Rx is on course to meet the reporting deadlines.
The new legislation requires certain information be added to the covered persons ID cards. Deductibles, out-of-pocket costs maximum limitation, telephone numbers and internet website addresses, as well as other information is to be included. True Rx is currently working with our TPA partners and our ID card processor to make the necessary changes and prepare to begin processing the new cards. This requirement is effective 1/1/22.
No Gag Clauses
True Rx already does not require any gag clauses and no action will need to be taken in order to comply with this regulation.
This information is provided for the sole purpose to keep our clients and partners informed on the status of compliance with the new legislation by True Rx. It is not meant to address every aspect of those laws and their requirements. There may be other requirements that apply to your specific organization, please consult your legal advisor for specific questions and how these laws apply to you.
If you believe we or any company associated with us has misused any of your information, please contact us immediately and report such misuse.
To contact us regarding this policy and our related practices, please send an email to firstname.lastname@example.org or write to us at:
True Rx Health Strategists
7 Williams Brothers Drive
Washington, IN 47501