President Trump's Executive Order on Healthcare Price Transparency
President Trump's executive order on healthcare price transparency aims to revolutionize healthcare by requiring the publication of actual prices of care and coverage, empowering patients to reduce costs and boosting worker paychecks and business earnings.
Key Points
- Healthcare price transparency protects patients from overcharges
- Empowers employers and unions to spot wide price variations and design affordable health plans
- Systemwide price transparency can generate approximately $1 trillion of savings
Pros
- Empowers patients to reduce healthcare costs through choice and competition
- Boosts worker paychecks and business earnings
- Creates a competitive marketplace that restores choice, accountability, and trust
Cons
- Hospitals and health insurers have not fully complied with the transparency rules
- Biden administration rolled back the rule on posting actual prices
- Health insurers have buried data disclosures in complex files