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What Is Price Transparency?

What Is Price Transparency

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Written by: Benavest

BenaVest is an Insurance Agency dedicated to providing knowledge, services of Insurances like Health, Life, and Retirement. We want dedicate our time to bringing you the best services possible.

Medicare

May 28, 2021

President Trump has signed an executive order to bring more price transparency to medical care. When it comes to medical care the price you see is not always the price you get. Doctors and hospitals accept different amounts as payment in full for the same services depending on your health insurance plan. 

 

This order aims to make it more clear to individuals exactly how much their medical bills will cost. Some medical providers and insurers try to provide a likely out-of-pocket cost to their consumers but the exact amount is not known until they receive the statement of benefits. 

 

Price transparency regulations are being drawn up to implement a new executive order in the coming months. 

 

Reference: https://www.ehealthinsurance.com/

For more information about medicare visit Benavest.com

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