Health Care Prices Revealed and Information to Consumers Explained Transparency Act

Bill 118 s 3548, also known as the Health Care Prices Revealed and Information to Consumers Explained Transparency Act, aims to increase transparency in the healthcare industry by requiring healthcare providers to disclose pricing information to consumers. The bill requires healthcare providers to make available to the public a list of standard charges for items and services provided by the facility, including negotiated rates with insurers.

Additionally, the bill requires healthcare providers to provide patients with an estimate of out-of-pocket costs for a specific service or procedure upon request. This information must be provided in a clear and understandable manner, allowing patients to make informed decisions about their healthcare.

The bill also includes provisions to improve price transparency for prescription drugs, requiring drug manufacturers to disclose the list price of prescription drugs in direct-to-consumer advertising. This will help consumers better understand the cost of their medications and make more informed decisions about their healthcare. Overall, the Health Care Prices Revealed and Information to Consumers Explained Transparency Act aims to empower consumers by providing them with the information they need to make informed decisions about their healthcare. By increasing transparency in pricing and costs, the bill seeks to promote competition and drive down healthcare costs for all Americans.