Trump Signs ‘Landmark’ Executive Order, ‘Fundamentally Changing’ Health Care Marketplace
The order also demands that patients be told upfront how much they will be paying out-of-pocket for certain medical treatments, as Fox News noted.
“Making meaningful price and quality information more broadly available to more Americans will protect patients and increase competition, innovation, and value in the healthcare system,” the order reads.
“We are fundamentally changing the nature of the health care marketplace,” he said.
Health and Human Services Secretary Alex Azar suggested the initiative will help patients save money on health care by allowing them to essentially shop around for cheaper procedures at local doctors’ offices rather than hospitals.
Details on how exactly this type of information will be disclosed to patients will be written out during the rules process.
However, this process could take months or even years to be spelled out by federal agencies.
Do you support President Trump’s new executive order?
94% (15 Votes)
6% (1 Votes)
Health insurance companies, meanwhile, believe the executive order will actually cause prices to increase, not go down.
“Publicly disclosing competitively negotiated proprietary rates will reduce competition and push prices higher — not lower — for consumers, patients, and taxpayers,” read a statement from Matt Eyles, who leads the industry group America’s Health Insurance Plans
Industry officials say that Medicare-negotiated rates are publicly available, and that private insurance rates, which are usually not, should remain that way, Fox noted.
The officials claim these rates should be considered trade secrets and thus stay private.
“It’s very dangerous. The Democrat plan would terminate the private health insurance of over 180 million Americans who are really happy with what they have.”
“Under my administration, we will never let that happen,” he added.
“We believe in giving patients choice and freedom in health care, ensuring access to the doctors they want, the treatments they need and the highest standard of medical care anywhere in the world. And this will make it much better than it’s ever been.”
We are committed to truth and accuracy in all of our journalism. Read our editorial standards.