Health Care PRICE Transparency Act

Hozzl · 2023-12-15T16:07:01Z

Explore the details of Senate Bill 1130 Health Care PRICE Transparency Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Health. Stay informed on legislative developments.

12/15/2023, 4:07 PM

Summary of Bill S 1130

Bill 118 s 1130, also known as the Health Care PRICE Transparency Act, is a piece of legislation introduced in the US Congress. The main goal of this bill is to increase transparency in the pricing of health care services.

The bill requires health care providers, including hospitals, physicians, and other medical professionals, to disclose the prices of their services to patients before they receive treatment. This includes providing information on the cost of procedures, tests, and other medical services, as well as any potential out-of-pocket expenses that patients may incur.

Additionally, the Health Care PRICE Transparency Act aims to make it easier for patients to compare prices between different health care providers. The bill requires health care providers to make their pricing information easily accessible to patients, either through their websites or by providing it upon request. Overall, the Health Care PRICE Transparency Act is designed to empower patients to make more informed decisions about their health care and to help reduce the overall cost of medical services. By increasing transparency in pricing, the bill aims to create a more competitive health care market that benefits both patients and providers.

Congressional Summary of S 1130

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.

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Current Status of Bill S 1130

Bill S 1130 is currently in the status of Bill Introduced since March 30, 2023. Bill S 1130 was introduced during Congress 118 and was introduced to the Senate on March 30, 2023. Bill S 1130's most recent activity was Read twice and referred to the Committee on Health, Education, Labor, and Pensions. as of March 30, 2023