Today, the Texas Public Policy Foundation responded to the filing of a lawsuit by the U.S. Chamber of Commerce and the Tyler Area Chamber of Commerce challenging price transparency rules for insurers. The rules are the second part of a two-part Trump administration push to make health care prices more transparent to the American people.
“We saw that when the hospitals attempted to conceal their prices, the courts ruled in favor of American families, saying that clear, concise price information is crucial for consumers who face higher and higher prices for care,” says TPPF’s David Balat, director of the Right on Healthcare initiative. “This lawsuit is equally misguided. What’s more, this lawsuit could backfire on the insurance industry—which is clearly behind it—because it includes drug prices, at a time when Americans have a whole lot of questions about why prescription medication prices are skyrocketing.”
According to the rule, insurers must offer an online tool that provides out-of-pocket cost estimates for 500 of the “most shoppable” services by 2023. By 2024, all services must be listed. Historical pricing data must be listed by pharmacy benefit managers for prescription drugs.
“Hospitals and insurers may claim that consumers will be ‘confused’ by the data, but what could be more confusing than our byzantine health care system now, even—or especially—for those with insurance?” Balat asked. “We will stand up to the Chambers and the insurers to make certain that American families have all the information they need—and the transparency they deserve.”
The lawsuit can be viewed here.