Trump administration proposes rule requiring hospitals to publish the prices negotiated with insurers
Author: Angelica LaVito
The Trump administration is proposing a rule that would require hospitals to publish the prices that are negotiated with insurers or risk being fined.
The proposed rule, announced Monday, would apply to the roughly 6,000 hospitals that accept Medicare. Hospitals could be fined up to $300 a day if the standard and negotiated prices for services are not posted online.
Starting this year, the administration required hospitals to publish list prices, or the sticker price. That does not reflect what someone might pay with insurance. The proposed rule would go a step further and require hospitals to also post the prices various insurance plans pay.
President Donald Trump has made lowering health-care costs one of his key priorities.
“We’re trying to change the paradigm here,” Centers for Medicare & Medicaid Services Administrator Seema Verma said on a call with reporters. “We’re trying to ensure we have a competitive free market where providers can compete on cost and quality and patients have the information they need to seek high-quality providers.”
The public comment period will be open until the end of September. If finalized, the rule would take effect in January.
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