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.