Bill > S1524

This bill, the Health Care PRICE Transparency Act, aims to improve hospital and insurer price transparency. Key provisions include: - Hospitals must publicly post a list of their standard charges, including the gross charge, any payer-specific negotiated charges, the de-identified minimum and maximum negotiated charges, and the discounted cash price, for at least 300 "shoppable" services (services that can be scheduled in advance) in a consumer-friendly, machine-readable format. - Health insurers must provide an online tool that allows consumers to search for cost-sharing information for in-network and out-of-network providers, including estimated out-of-pocket costs. Insurers must also disclose in-network provider rates, out-of-network allowed amounts, and historical net prices for prescription drugs. - The bill establishes enforcement mechanisms, including civil monetary penalties, for hospitals that fail to comply with the price transparency requirements. The overall goal is to empower healthcare consumers with more information about the actual prices of healthcare services to make more informed decisions.