The Trump Administration has issued a new Executive Order that requires the Health and Human Services, Treasury, and Labor departments to issue new guidance the would disclose the cost of a patients care, negotiated rates (discounts) of providers, and to de-identify federal healthcare data (transparency of data).
Here’s some of specific instructions that was given to the departments listed, which they need to use to develop new regulatory guidance :
- Require hospitals to disclose information about negotiated rates in a format that’s understandable and usable by patients and consumers.
- Require insurance companies to provide patients with information about the cost of their care, including out-of-pocket costs before they receive services.
- Develop a comprehensive roadmap for consistent, limited, and consumer-centric quality metrics.
- Expand the availability and use of HSAs to cover direct primary care arrangements and healthcare sharing ministries. It also seeks to include more preventive services that can be covered in the deductible period.
- Issue guidance on the number of funds that can be carried over at the remainder of the year for FSAs.
This order doesn’t implement any new federal policies, but the process will go through rule-making procedures, which will then allow for a comment period and enactment of a final rule.
Tom Schneider, Agency Owner @ Total Care Insurance Agency https://www.totalcareins.com/
As for the impact on consumers, that will depend on the final rules. Here are a few differing articles on this topic:
White House – https://www.whitehouse.gov/presidential-actions/executive-order-improving-price-quality-transparency-american-healthcare-put-patients-first/?mkt_tok=eyJpIjoiWmpka056STNZamxpWWpGaSIsInQiOiJBeHl1R2Fzazh3ZDhZV0wwV0dBWnZYVnVyS3RobWhOeEs1c2JicDVwYlI1bzBDSzJXbktaTFFncFJCZlJzM0ljR1ppNkJUazJ2MDZac1dQVk5Wc0pEYlNsbzlOektGREJsN2NFSzVNVENmZUpcLzh2K1Jvc1ZPNVk1T2EzSjFiZVwvIn0%3D