The Departments of Labor, Health and Human Services, and the Treasury have taken steps to enhance healthcare price transparency. This initiative aligns with President Trump's directive to provide Americans with clear and actionable information about healthcare costs.
A Request for Information (RFI) was jointly issued by the departments to gather public input on improving prescription drug price transparency. The RFI seeks feedback on various aspects such as prescription drug price disclosure requirements, data elements in existing files, health plans' access to necessary reporting data, state approaches, and innovations.
Additionally, updated guidance has been released for health plans and issuers regarding a new technical format for disclosures. This aims to eliminate redundant data and make cost information more understandable for consumers.
"Transparency empowers individuals to make well-informed health care decisions for themselves and their families," said Deputy Secretary of Labor Keith Sonderling. "The departments’ actions today execute President Trump’s mission to address rising health care costs by promoting competition in the marketplace."
In parallel efforts, the Centers for Medicare & Medicaid Services (CMS) provided guidance through its Hospital Price Transparency resources website. This requires hospitals to post actual prices of items and services rather than estimates. CMS also issued its own RFI seeking public feedback on boosting hospital compliance, enforcement, and ensuring accuracy in shared data.
“Transparency in health care is essential, not optional,” stated Stephanie Carlton, CMS Chief of Staff and Deputy Administrator. “Americans deserve to know exactly what they’re paying for and what they’re getting in return.”
These measures are part of Executive Order 14221 titled “Making America Healthy Again by Empowering Patients with Clear, Accurate, and Actionable Healthcare Pricing Information.” The order instructs the Secretaries of Treasury, Labor, and Health and Human Services to enhance transparency regulations initiated during President Trump’s first term.
Two significant regulatory actions will be strengthened through today's measures:
- The Transparency in Coverage final regulations require health plans and insurance companies to publicly disclose in-network rates, out-of-network allowed amounts, billed charges, and negotiated prices for prescription drugs.
- The Hospital Price Transparency final regulations mandate hospitals publicly post standard charges including gross charges cash prices payer-specific negotiated rates minimum negotiated charges in an easy-to-understand format.
These steps aim at making pricing data more useful accurate accessible curbing rising healthcare costs promoting competition empowering patients.
The Trump administration remains dedicated to delivering a transparent affordable patient-centered healthcare system as part of the President's mission towards making America healthy again.
