Trump administration to require hospitals to reveal discounted prices they give insurers

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The Trump administration plans to release a sweeping proposal on Friday that would require hospitals to publicly disclose the discounted prices they secretly negotiate with insurance companies — a change intended to increase price transparency for patients shopping for care.

According to The Wall Street Journal, which first reported the news, the final rule will force hospitals in 2021 to report the rates they strike with individual insurers for all services, including drugs, supplies, facility fees and care by doctors who work for the facility.

The administration will also extend the rule to the $670 billion health care industry, meaning that insurance companies, including Anthem and Cigna, and group health plans that cover employees will have to disclose negotiate rates and previously paid rates for out-of-network treatment in computer-searchable file formats, the Journal reported.

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