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WASHINGTON, D.C. - Congressman Brett Guthrie (KY-02), who serves as the Chair of the Health Subcommittee on the House Energy and Commerce Committee, released the following statement after voting for H.R. 5378, The Lower Costs, More Transparency Act, which passed out of the Health Subcommittee.

“Since the first day of the 118^th Congress House Republicans have been working to make life more affordable for everyday Americans. As Chair of the Health Subcommittee on the House Energy and Commerce Committee, I have been committed to bringing down the costs of health care for patients by empowering them to know the true costs of their care,” said Chairman Guthrie. “By making our health care system more transparent we can ensure that both patients and employers are allowed to shop around and make informed decisions on their health care needs, like they would at the grocery store. We are also working to reveal the true costs of prescription drugs by requiring health insurers and pharmacy benefit managers to disclose negotiated discounts that everyday Americans are not seeing at the pharmacy. Through the dedicated work of the House Energy and Commerce, especially under the leadership of Chair Rodgers, Kentuckians will finally see the prices hidden behind the health care curtain and drive the change the changes they deserve.”

Background:

The Lower Costs, More Transparency Act takes a multi-pronged approach to increase health care price transparency, address the costs of prescription drugs, and support our rural health care systems and while still reducing the federal deficit by $700 million.

The Lower Costs, More Transparency Act does this by:

Increases Price Transparency Throughout the Health Care System for Patients

·       Empowers patients and employers to shop for health care and make informed health care decisions by providing timely and accurate information about the cost of care, treatment, and services.

·       Requires health care price information from hospitals, insurance companies, labs, imaging providers, and ambulatory surgical centers to publicly list the prices they charge patients, building upon the Trump administration price transparency rules.

·       Lowers costs for patients and employers by requiring health insurers and pharmacy benefit managers (PBMs) to disclose negotiated drug rebates and discounts, revealing the true costs of prescription drugs.

Addresses the Cost of Prescription Drugs

·       Lowers out-of-pocket costs for seniors who receive medication at a hospital-owned outpatient facility or doctor’s office.

·       Expands access to more affordable generic drugs.

·       Equips employers with the drug price information they need to get the best deal possible for their employees.

Click here to read full bill text.

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