Disclosing Health Care Prices – Trump's Executive Order

LAS VEGAS - March 19, 2020 - PRLog -- President Trump released a new executive order to further improve the transparency of pricing within the healthcare industry. The Department of Health and Human Services announced that there will be two new rules created to help improve competitive pricing between hospitals, health insurance issuers, and health plans. The effort is aimed at helping to empower patients when they make their health insurance decisions. Las Vegas, Nevada health insurance agents are poised to adapt to the changes in health insurance pricing as a result of the executive order.

Health Insurance Transparency: How Will This Affect Patients?

The order by President Trump is aimed at offering patients better healthcare transparency in pricing. In today's healthcare model, consumers must contact their health insurance provider to see how much a procedure will cost them. The price is negotiated between the hospital and the insurance company with consumers receiving no say in the matter, and almost always are unable to get a clear answer on how much a procedure will cost. Today's modern patient is unable to compare costs between two hospital systems but is instead told they need a procedure and forced to accept the rate and final bill they are issued.

Uninsured Patients and the Transparency Effort

While it makes the most financial sense to have health insurance, for a variety of reasons some Nevadans may not have a health insurance plan. The new transparency orders would affect their ability to get competitively priced healthcare. This would allow consumers to get real numbers that are generally kept in the shadowy system or kept hidden on an undisclosed ledger. The eventual hope is that greater transparency would reduce the rates of health insurance and health care overall.

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Nevada Insurance Enrollment
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Website: NevadaInsuranceEnrollment.com