President Donald Trump has signed an executive order aiming to make healthcare costs more transparent for patients.
The ruling directs regulators to force healthcare providers and insurers to publicly disclose their prices, the idea being to make it easier for consumers to shop around for better deals.
The move marks a more aggressive approach to boost compliance with regulations Trump introduced in 2019, which providers have only half-heartedly been following.
Trump has long advocated for insurers to tell consumers up front the actual prices for common tests and procedures, believing it will drive down costs.
Healthcare prices have traditionally been veiled in secrecy, determined through private negotiations among doctors, hospitals, pharmaceutical companies, and insurers.
Those involved have fiercely guarded these figures, arguing confidentiality is essential to the bargaining process.
Andrew Bremberg, former assistant to Trump and director of the Domestic Policy Council at the Trump White House, said in a statement: ‘This price transparency executive order is a major statement from President Trump. Healthcare price transparency will help millions of Americans and will be a cornerstone in President Trump’s healthcare legacy.’
However, insurance industry groups have argued regulations would have the opposite effect on costs and actually raise premiums.