Group health plans and health insurance issuers are soon to face a critical milestone. By December 31, 2023, these entities must submit an attestation to certify compliance with the “gag clause prohibition” under the Consolidated Appropriations Act of 2021 (CAA).
In essence, the “gag clause” is a term that occurs in multiple sectors which generally prevents service providers from freely discussing certain cost or pricing information. The CAA mandates its prohibition especially within the scope of healthcare where cost information can be critical.
Attestations serve as their sworn statements, legally binding the attestants to the truth of their compliance status. With a first deadline looming at the end of 2023, significant implications are bound to arise not just for the issuers themselves but also for the corporate landscape reliant on them.
For more in-depth insight into the matter, the full article on the upcoming “gag clause prohibition” attestation and its potential impact is available at JDSupra.
Preparation for this legal requirement would prove crucial for all participating entities involved. Timely compliance can prevent potential legal issues and maintain smooth operations in their respective fields. The clock is ticking, making each day count as we approach the decisive date.