Senators Introduced A(nother) Hospital Price Transparency Bill. Here’s Why
"You wouldn’t book a flight if you couldn’t find out the ticket price until you land — or check into a hotel without knowing if you’re paying for the Ritz or a dump. But that’s the absurd guessing game Americans play every time they need medical care."
That’s how U.S. Senator and Senate Health, Education, Labor, and Pensions Committee member John Hickenlooper explains the importance of the Patients Deserve Price Tags Act, which he introduced alongside fellow Sen. Roger Marshall last month.
It’s not the first health care price transparency bill that’s been introduced — or even passed. But its existence points to a problem with which most Americans are, unfortunately, well acquainted: the high cost of medical care — costs that are often not disclosed to the patient until after services have been rendered.
What would the Patients Deserve Price Tags Act do?
The Patients Deserve Price Tags Act is a bipartisan bill that would, if passed into law, require hospitals to post "actual prices" for 300 shoppable services — that is, nonemergency services that afford patients the option to price shop before undergoing — and all services starting in 2027.
It would also entitle each patient to an Explanation of Benefits statement and require facilities to offer patients itemized bills, as well as requiring transparency around the specific dollar-amount prices negotiated with payers (i.e., insurance companies).
The bill works to codify and strengthen existing price transparency rules — with which more than a third of hospitals, in a randomized survey by the Department of Health and Human Services, were not in compliance.
Last year, in response to another health care price transparency measure, the U.S. Public Interest Research Group (PIRG) estimated that such transparency could save Americans up to $1 trillion in health care costs annually.
Budgeting for health care needs — even without price transparency
Time will tell whether this bill will come to pass — or if any of the health care price transparency measures that have so far will actually inspire facilities to comply. But for now, there are still ways to budget for health care costs — even without knowing exactly how high those costs might be.
An affordable but robust health insurance plan is the foundational piece of the puzzle. Comparing health insurance quotes and using insurers’ online tools to check that your preferred providers and required medications are covered ahead of time can help you keep routine costs of health care relatively low.
Still, the average cost of a Silver-level health care plan purchased off the Affordable Care Act — ACA — (or Obamacare) market is $621 per month in 2025, which doesn’t include deductibles or copays. Depending on your income, you may qualify for an ACA subsidy if you purchase your health insurance on the market. You may also be eligible for Medicaid if your income is below $21,597 as an individual or $44,367 as a family of four in 2025.
Higher earners who can afford a sudden, large expense might consider opting for a High-Deductible Health Plan (HDHP), which can keep premium costs lower and also create the option for saving money in a Health Savings Account (HSA). HSA funds never expire and enjoy a triple tax incentive: they’re tax-deductible when contributed, grow tax-deferred and can be withdrawn for qualified medical expenses tax-free. In short, they’re very powerful vehicles when it comes to saving for future medical expenses — no matter what the future looks like.
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