Health Care PRICE Transparency Act

The Health Care PRICE Transparency Act requires hospitals to publicly disclose detailed pricing for at least 300 healthcare services that consumers can schedule in advance (including 70 Medicare-specified services) in plain language and machine-readable format. This includes showing gross charges, negotiated rates with insurers, discounted cash prices, and billing codes for each service, all accessible free of charge on hospital websites. Health insurers must also provide consumers with an online tool and paper option to see cost-sharing estimates for in-network and out-of-network care, including historical drug prices and out-of-network allowed amounts. Non-compliance by hospitals could result in daily civil penalties of up to $300.