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Increased Transparency in Healthcare Prices and Insurance Costs

New rules aim to make it easier for citizens to compare healthcare service prices and health insurance costs. Hospitals and insurers will be required to disclose detailed pricing information, allowing for better healthcare expense planning and avoiding unexpected charges.
Key points
Hospitals must publicly disclose full price lists for services, including gross charges, negotiated rates with insurers, minimum and maximum prices, and cash payment prices.
Insurers will be required to provide information on rates for in-network and out-of-network providers, as well as prescription drug prices.
Online tools will be available to estimate treatment costs, showing how much a patient will have to pay for a given service.
Hospitals failing to comply with the regulations may face fines of up to $300 per day.
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Additional Information
Health Care PRICE Transparency Act
Print number: HR 410
Sponsor: Rep. Davidson, Warren [R-OH-8]
Process start date: 2023-01-20