WASHINGTON, DC, March 24, 2023 – The ERISA Industry Committee (ERIC) issued a letter of support today for the Hospital Transparency Compliance Enforcement Act (S. 468), legislation introduced by Senator John Kennedy (R-LA) that would impose higher fines for hospitals that do not make publicly available the cost of contracted health care services with insurers – holding hospitals accountable to the 2021 Price Transparency Regulations.
“Too many hospital systems across the country have avoided complying with price transparency regulations, leading to higher costs for patients and potentially wasteful spending in employer-sponsored benefit plans,” said James Gelfand, president of ERIC. “It’s time for non-compliant hospitals to get on board and follow the law.”
ERIC believes the bill will allow consumers to make more educated health care decisions by avoiding the noncompliant facilities and choosing hospitals with listed service prices – and hopefully will lead to better compliance with the law.
To read ERIC’s letter, click HERE.
