Health Care PRICE Transparency Act
Health Care PRICE Transparency Act
Plain Language Summary
# Health Care PRICE Transparency Act Summary **What It Would Do:** This bill would require hospitals and health insurance companies to publicly disclose pricing information so patients can see what they'll pay for medical services before receiving care. Hospitals would have to publish negotiated rates with insurance companies, cash discounts, and billing codes for scheduled procedures. Insurance plans would need to post their in-network and out-of-network prices, as well as prescription drug costs. Additionally, insurance companies would be required to create tools letting consumers look up specific costs and respond to patient requests for pricing details. **Who It Affects:** The bill directly impacts hospitals, insurance companies, and patients.
Patients would benefit by having transparent access to cost information before scheduling procedures, potentially allowing them to shop around or plan financially. Hospitals and insurers would face new requirements to compile and publish this data. **Current Status:** The bill was introduced in the 119th Congress by Representative Warren Davidson (R-OH) and is currently in committee, meaning it hasn't been voted on by the full House of Representatives yet. No action has been taken beyond initial committee referral.
CRS Official Summary
Health Care Prices Revealed and Information to Consumers Explained Transparency Act or the Health Care PRICE Transparency Act This bill provides statutory authority for requirements for hospitals and health insurance plans to disclose certain information about the costs for items and services. Specifically, hospitals must publish in their list of standard charges certain rates negotiated with insurers, discounts for cash payments, and billing codes. Further, hospitals generally must publish the standard charges for the services provided by the hospital that may be scheduled in advance. Additionally, insurance plans must publish the in-network and out-of-network charges for covered items and services and the negotiated prices for covered prescription drugs. Plans must provide a tool for consumers to search for this cost information. Consumers also may request additional information about the costs of specific items or services under their plans.
Latest Action
Referred to the House Committee on Energy and Commerce.