Trump Signs Executive Order to Increase Health Care Price Transparency

President Donald Trump signed an executive order designed to increase pricing and quality transparency in healthcare. This move aligns with measures that the Trump administration has taken in order to address rising health care costs across the nation. In May, the Department of Health and Human Services (HHS) announced a rule that would require drug companies to disclose the price of prescription drugs on TV ads, and Trump also delivered a speech in which he laid out a blueprint for combating surprise medical billing.

What is in Trump’s Executive Order?

The executive order to increase health care price transparency comes in hopes to eliminate unnecessary barriers to health care pricing and quality transparency.

Pricing Transparency

Within 60 days of the order, HHS will propose a regulation to require hospitals to post their pricing information publicly. This information is to be published and delivered in an easy-to-understand format for consumers to view. This pricing information will include charged and information based on insurance-negotiated prices and shoppable services or items.

Within 90 days of the order, the HHS will issue an advance notice of proposed rulemaking requiring providers, insurers, and self-insured health plans to provide patients with information about expected out-of-pocket costs for medical items or services before they receive care.

Within 180 days of the order, a report that describes how the government or private sector is hindering transparency in health care quality and pricing for consumers will be delivered.

Medical Spending Accounts

Within 120 days of the order, the secretary of treasury will issue guidance to expand consumers’ ability to choose high deductible health plans with health savings accounts. This will also increase the amount of funds in flexible spending accounts that can carry over without penalty at the end of each year.

Quality of Care Transparency

Within 180 days of the order, the HHS shall increase access to de-identified claims data from taxpayer-funded health care programs and group health plans. This increased access will help in developing tools designed to empower patients towards making more informed decisions regarding their health care.

Next Steps

Continue to monitor any developments regarding the executive order. We will post details as they came out!