WASHINGTON, D.C. – Yesterday, President Trump’s
administration finalized a new price transparency reform that requires health
insurance companies to tell the public how much they pay and how much patients
will have to pay, even before the procedure is performed. The Foundation for
Government Accountability (FGA) offered the following statement in support.
Americans deserve to know what both they and their insurance
company pay for covered services, as well as for prescription drugs. In
surveys, voters have consistently said that this is one of the most crucial
health care issues facing our country and have demanded action. Nearly nine in
10 voters support
the reform.
Yesterday’s finalized rule, when paired with the earlier
hospital rule, is the most important price transparency reform we have ever
seen at a national level. The
transparency rule makes it easier for patients to budget for health care and
will increase competition in the health care market. This will ultimately lead
to lower prices for American families. Lower prices help families’ bottom
lines, as well as grow the economy.
“Under this new rule, American patients win. It builds on
years of success at the state level. The sky is the limit in terms of what this
means for hardworking Americans who want the ability to make informed choices
about their own health care,” said Josh Archambault, a senior fellow at FGA.
You can read more about health care price transparency here.
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The Foundation for Government Accountability is a non-profit, multi-state think tank that specializes in health care, welfare, and work reform. To learn more, visit TheFGA.org
