Third‐​party payers, private and public, have difficulty restraining healthcare prices, which are typically opaque and all over the place. A new insurance feature — known as “reference pricing” or “reverse deductibles” — has dramatically reduced prices, made prices more transparent to consumers, and spurred consumers to switch to lower‐​cost providers, all by making consumers cost‐​conscious. Please join us as we discuss this new innovation and direction in health‐​care pricing.