Transcript
In a historic move, President Trump announced Friday that hospitals will be required to disclose the rates they normally negotiate privately with insurance companies.
The new rule is the latest in a series of steps the Trump administration is taken to show what Trump is doing to lower healthcare costs.
It is a key concern among Americans heading into the 2020 presidential campaign.
Under the final rule, hospitals will have to make the rates public by 2021.
In addition, hospitals must provide the rates for common procedures like x-rays, outpatient visits and lab tests online.
Hospitals that don’t comply will face a civil penalty of up to $300 a day.
The decision has already angered the healthcare industry.
Four hospital groups quickly promised to file a legal challenge, arguing the Trump administration exceeded its authority.
Negotiated rates are closely guarded secrets.
Health policy experts argue Trump’s plan would actually make prices rise since insurance companies will know what deals their rivals negotiate.
The Closed Caption version of this video can be found here: https://sign1news.com/2019/11/16/sign1news-11-16-19/
Sign1News is the first and only digital network, partnered with world news leader CNN, to offer on-line news and information in American Sign Language. Sign1News provides equal access to local, regional and national news and information to the Deaf and hard-of-hearing community via a daily post-produced broadcast. Sign1News: Your Life. Your Language.