U.S. Department of Labor reposted this
At the Department of Labor, we believe transparency empowers individuals to make well-informed health care decisions for themselves and their families. Today, the U.S. Department of Labor issued a Request for Information (RFI) with U.S. Department of Health and Human Services (HHS)and U.S. Department of the Treasury to seek public feedback on how to improve prescription drug price transparency. The actions today will help address rising health care costs by promoting competition in the marketplace, which is a critical component of President Trump’s mission to make life more affordable for the American people. This RFI is a critical step forward in our effort to implement President Trump’s Executive Order, “Making America Healthy Again by Empowering Patients with Clear, Accurate, and Actionable Healthcare Pricing Information,” which directs the Labor, HHS, and Treasury to build on the groundbreaking transparency regulations launched during the President’s first term. The RFI seeks input regarding prescription drug price disclosure requirements, including information on existing prescription drug file data elements and information on implementation generally. Today’s actions will strengthen two key regulatory actions: The Transparency in Coverage final regulations, which require health plans and insurance companies to publicly post in-network rates, out-of-network allowed amounts, billed charges, and negotiated prices for prescription drugs. The Hospital Price Transparency final regulations, which require hospitals to publicly post standard charges, including gross charges, cash prices, payer-specific negotiated rates, and the minimum negotiated charges, in an easy-to-understand format for shoppable services. Additionally, the three departments also released updated guidance for health plans and issuers that sets a clear applicability date for publishing an enhanced technical format for disclosures. Learn more: https://lnkd.in/eAuSsw5i