Senate advises greater disclosure of healthcare costs

Consumers have been asking for it--and now the U.S. Senate may oblige. The Senate has released a discussion draft of legislation that they think would help contain healthcare costs through greater disclosure of such costs.

The legislation would force an employer to disclose on the employee's annual Form W-2 how much it pays for the employee's healthcare, including the combined value if the employee holds several separate plans such as medical, dental and vision coverage.

Senate officials proposing the bill believe that if workers knew how much they were paying for healthcare, they would either find ways to be more efficient or demand that their employers make changes to help save them money. Their assertion follows on testimony from the Congressional Budget Office, which contended that such disclosures would be a good way to help contain healthcare costs.

To learn more about this legislation:
- Read this Healthcare Finance News piece [1]

Related Articles:
Study: U.S. health consumers demand transparency [2]
TN hospitals put prices online [3]
PA bill requires healthcare pricing disclosure [4]