The country’s leaders are understandably focused on policies to help American businesses and workers deal with the ramifications of the coronavirus recession. In addition to broad-based relief, Congress has targeted aid to hospitals, health care providers, and clinical laboratories, despite their relative wealth. Two bills enacted in March provided a nearly $175 billion bailout for hospitals and providers.
On May 15, the House of Representatives passed a bill that would add another $100 billion to this bailout and provide substantial taxpayer funds to health insurers through a full subsidy for employee COBRA coverage, an increase in Affordable Care Act subsidies, and a provision that would largely offset any insurer losses in 2020 and 2021 with taxpayer money.
It’s time for Congress to stop focusing its efforts on supporting the wealthy health care and health insurance industries and it’s time for these industries to help American families and businesses and drop their fight against health care price transparency. This starts by equipping Americans—both families and employers—with tools to be better purchasers of health care. Specifically, Congress should lock in the Trump administration’s price transparency rules to end the legal battles over them and to give the American people the information they need to make smarter decisions about their health care and coverage. Enhanced shopping will increase competitive pressures in health care markets and lead to lower prices and enhanced quality of care.
Read the full article at Health Affairs.