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In Case You Missed It – Last Monday December 11, Congressman Brett Guthrie (KY-02), who serves as the Chairman of the House Energy and Commerce Committee Subcommittee on Health, delivered the following remarks on the floor of the House of Representatives in support of the Lower Costs, More Transparency Act which was first marked-up in the Health subcommittee.

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“Mr. Speaker, I rise today to speak in support of H.R. 5378, the Lower Costs, More Transparency Act.

Over the past several years, I’ve heard from countless Kentuckians about the challenges they face and the pain they’re feeling due to rising health care costs. This bipartisan, landmark legislation marks the first step in driving transformational change across our health care system.

The Lower Costs, More Transparency Act incorporates transparency requirements in nearly every aspect of the health care system.

We’re building on the Trump-era price transparency rules for hospitals and insurance plans, we’re requiring pharmacy benefit managers to disclose drug prices and fees to lower costs for patients and employers, and we’re even requiring transparency for clinical labs.

We have countless testimonials and data to show that transparency lowers costs. Recently, a multinational equipment manufacturer fired their PBM and started managing their own prescription drug benefits for its employees, because they finally understood what they were being charged.

But the most important part about this bill is that, for once, it’s not a top-down, Washington-knows-best solution to address the rising costs of health care.

The American people have given Congress this mandate with over 95% of surveyed voters supporting health care price transparency to reduce health care costs, according to a 2022 KFF poll.

The Lower Costs, More Transparency Act also directly lowers costs seniors are paying out-of-pocket for certain drugs, like cancer drugs and other medicines administered in doctors’ offices that are owned by hospitals. 

Seniors receiving Medicare should not be paying more for a drug based solely off the location of where they received the drug. We are fixing this.

I should also note that we were able to get major policy changes in this legislation while making sure the bill saves the American people money – an estimated $700 million—an objective that Congress very rarely prioritizes.

I want to thank Chair Rodgers for her vision and steadfast leadership on this bill. I will proudly be casting a ‘yes’ vote on H.R. 5378 and I urge my House colleagues to do the same.

Thank you, and I yield back.”

 

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