The proposed rule would ensure benefits on private insurance plans more closely mirror physical health benefits.
According to the administration, the action reinforces the 2008 Mental Health Parity and Addiction Equity Act.
Under the rule, insurers would need to evaluate and update coverage to make sure they are in compliance.
That might mean adding more mental health professionals to their network or reducing red tape to get care.
Officials expect the rule to Published in the federal register next week.
It then enters a 60-day public comment period before taking effect.
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