Bill 119 HR 267, also known as the Hospital and Insurer Price Transparency Act, aims to amend the Public Health Service Act in order to increase transparency in hospital and insurer pricing. The bill requires hospitals to disclose the prices they charge for their services, including the negotiated rates with insurers. This information must be made available to the public in a clear and easily accessible manner.
Additionally, the bill requires insurers to provide consumers with personalized cost estimates for their healthcare services, taking into account their specific insurance coverage. This will allow individuals to better understand the costs associated with their healthcare and make more informed decisions about their care.
Overall, the goal of Bill 119 HR 267 is to empower consumers by providing them with the information they need to make educated choices about their healthcare. By increasing transparency in hospital and insurer pricing, the bill aims to promote competition and drive down healthcare costs for all Americans.