PROMOTING HONESTY AND TRANSPARENCY IN HEALTHCARE PRICES: President Donald J. Trump is taking bold action to give patients the information they need to find high-value care.
- President Trump is announcing two historic rules to make healthcare prices more transparent than ever before.
- The Department of Health and Human Services (HHS) is finalizing a rule that will require hospitals to make prices publicly available online
- Hospitals will display prices for shoppable services as a total package in an easy-to-read, consumer-friendly format.
- The Trump Administration is also proposing a rule to require insurance companies and group health plans to provide cost estimates to enrollees in advance of care.
- Additionally, we are proposing that these companies make a list of all of their pricing information available to the public.
- Together, these two rules represent the most aggressive actions taken by any administration to put healthcare price information in the hands of patients.
IMPROVING TRANSPARENCY TO LOWER COSTS: Our healthcare system has long hidden the true cost of care, keeping critical information from patients and limiting competition.
- For years, powerful interests have blocked patients from knowing the true price and quality of healthcare, denying them the information they need to make informed choices.
- This lack of transparency has enriched industry giants at the expense of regular Americans.
- Prices for the exact same healthcare services can vary significantly in the same area with little to no correlation to quality.
- Armed with accurate information, patients can shop around for healthcare services and make the decision that is best for them.
- By increasing price transparency and empowering patients we can help lower the cost of healthcare and drive competition.
- Employers from around the country have already utilized priced transparency tools to reduce costs for their employees.
PUTTING AMERICAN PATIENTS FIRST: President Trump is working to protect the vulnerable, improve affordability, provide more options, and increase quality in American healthcare.
- The President signed an executive order to protect and improve Medicare for American seniors.
- The Trump Administration has taken aggressive action to drive down prescription drug prices and increase the availability of lower priced generics.
- These efforts have contributed to the largest decrease in prescription drug costs in nearly half a century.
- The President has empowered consumers by working to expand affordable options like Health Reimbursement Arrangements, short-term plans, and Association Health Plans.
- The President is working to improve healthcare for Americans struggling with conditions like HIV/AIDS, kidney disease, pediatric cancer, Alzheimer’s, and more.