Chairman Good Passes Healthcare Transparency Bill
WASHINGTON, D.C. – Health, Employment, Labor, and Pensions (HELP) Subcommittee Chairman Bob Good (VA-05) has introduced H.R.4507, the Transparency in Coverage Act, along with HELP Ranking Member Mark DeSaulnier (D-CA). This bipartisan legislation would help ensure patients have access to real-time pricing information for health care services in advance of receiving care. It would also require Pharmacy Benefit Managers (PBMs) to share cost information with the plan sponsors.
“Patients deserve transparency when receiving healthcare without any surprises or hidden costs. It is also time we shed light on the deals between PBMs and pharmaceutical manufacturers on rebate pricing to ensure patients’ best interests are served,” said Rep. Good. “By requiring increased price transparency for providers and oversight of PBMs, my legislation would empower patients in Virginia and across the nation with the information they need to make informed decisions and reduce health care costs.”
The bill successfully passed the Education and the Workforce Committee by a vote of 38 to 1. With committee passage, it is now Rep. Good’s third bill of the 118th Congress eligible to receive consideration on the House floor.