Bill > HR2691

This bill, the Transparent Prices Required to Inform Consumer and Employers Act (Transparent PRICE Act), aims to promote hospital and insurer price transparency. The key provisions are: 1. It amends the Public Health Service Act to require hospitals to publicly disclose in a consumer-friendly, machine-readable format their standard charges, including gross charges, payer-specific negotiated charges, discounted cash prices, and the average negotiated rate and acquisition cost for certain drugs. Hospitals must display this information for at least 300 "shoppable" services. 2. It requires the Department of Health and Human Services (HHS) to establish a process to monitor the accuracy and validity of the pricing information displayed by hospitals. 3. It imposes civil monetary penalties on hospitals that fail to comply with the price transparency requirements. 4. It requires HHS to publish a list of hospitals that are, and are not, in compliance with the hospital price transparency rule. 5. It amends the Patient Protection and Affordable Care Act to enhance health insurance price transparency, requiring insurers to provide consumers with real-time information on their cost-sharing obligations and in-network rates for services. The overall goal of the bill is to empower consumers and employers by improving their access to hospital and insurer pricing information, which can help them make more informed healthcare decisions.