The U.S. House was set to vote on a proposal aimed at increasing healthcare cost transparency on Monday evening. However, the proposal was pulled from the calendar late in the afternoon, leaving uncertainty about if or when it will be rescheduled for a vote.
The bipartisan bill, called the Lower Costs, More Transparency Act, seeks to address the issue that many individuals are unaware of the true cost of their healthcare services until after they have received them and are faced with a bill. The bill would require hospitals, ambulatory surgical centers, and diagnostic laboratories to publicly list the prices of their services.
The legislation is the result of collaboration between House Republicans and Democrats in various committees. It has received support from proponents who believe that it is a critical step towards ensuring that all Americans can afford their healthcare and have greater financial security.
In addition to promoting price transparency, the bill also includes new regulations for Pharmacy Benefit Managers (PBMs), often referred to as middlemen. PBMs would be required to provide detailed information on prescription drug spending to employers.
While the bill has bipartisan support, it is facing opposition from the healthcare industry and some Democrats. The American Hospital Association (AHA) expressed concerns about new regulations in a letter to House leadership. Some House Democrats argue that the proposal does not go far enough in improving transparency with private Medicare plans and private ownership of healthcare facilities.
The bill requires a two-thirds majority in the House to pass, and it remains to be seen when it will be rescheduled for a vote.
Sources:
– Boston 25 News
