Estimate Your Cost tool to launch Jan. 1

On Jan. 1, 2023, Blue Cross Blue Shield of Michigan is launching the Estimate Your Cost tool on the member site at bcbsm.com. The tool will empower members to:

• Compare prices for in-network health care providers and their services
• Get an estimation of Blue Cross’ payment for out-of-network services

This innovative, web-based tool will be available to all commercial underwritten and commercial self-funded members, as well as all federal employees with a BCN plan. Blue Cross and Blue Shield Federal Employee Program^® members will have access via fepblue.org. It won’t be available to Medicare, Medicare Advantage or Medicaid members.

The Estimate Your Cost tool will support two federal mandates: The Payer Transparency Final Rule and the Consolidation Appropriation Act — Price Comparison Tool:

• Payer Transparency Final Rule: This law requires health plans to provide members with personalized, out-of-pocket cost estimates for all covered health care items and services.
  
  The tool will make available:
• About 500 shoppable items and services, beginning Jan. 1, 2023
• All other items and services, beginning Jan. 1, 2024

• Consolidation Appropriation Act — Price Comparison Tool: Health plans must offer price comparison guidance by telephone or mail within two business days, and make available a price comparison tool through a website.

The web-based tool must allow members to compare cost-sharing information under their plan or coverage for specific health care items or services delivered by in-network providers. The information provided will be specific to the plan year, geographic region and provider participation status for the respective plan or coverage type.

More information to come

Be sure to look to future issues of The Record for more information on how members will be able to use this new web-based tool to select cost-effective items and services that meet both their health care and financial needs.