Frank Pallone: “Let me say that I concur with my colleagues and partners in crafting this important bipartisan piece of legislation that…”

“Let me say that I concur with my colleagues and partners in crafting this important bipartisan piece of legislation that is intended to codify and improve upon the robust requirements that exist in the regulations that have been implemented by both the Trump and Biden administrations. With this bill, we seek to bring true health price transparency to lower costs for patients, employers, and unions purchasing health coverage. This bill is a floor, not a ceiling, and I intend that the implementing agencies will use the discretion left to them to ensure that health plans and insurers disclose the detailed price information and necessary data on reimbursement rates for healthcare items and services. We intend to follow this colloquy with a bipartisan letter to the agencies reiterating our expectations in greater detail. In addition, in further colloquy with Chair Rodgers, I address a technical change that needs to be made to the bill in negotiations with the Senate. In the new version of the bill, we have limited the drug price data flowing to small employers in order to strengthen health privacy protections for their employees. However, I want to make clear that we did not intend to exclude multiemployer, public sector, or retiree-only and union health plans under this new provision, and we are committed to fixing this issue before the bill becomes law. Ranking Member Bobby Scott also agrees with this perspective.…”