Bill would require insurers disclose reform-related fees, taxes

New legislation introduced in the Senate this week would mandate insurers publicly disclose the fees and taxes they pay under the health reform law.

The bill (S. 764) also would require insurers provide consumers with information on reinsurance contributions, health insurance exchange user fees, risk corridor payments and risk adjustment charges.

Sen. John Cornyn (R-Texas) introduced the legislation, saying it would help educate consumers about how reform law benefits are funded and clarify the effect on premiums, according to Law360.

"Texans have the right to know just how much this law is costing them, and this bill would bring much needed transparency to the onslaught of higher costs families will be facing," Cornyn said this week in a statement.

The bill further demonstrates how Republicans believe the reform law will contribute to rising healthcare costs for average consumers, reported The Hill's Healthwatch. They also want consumers to know how much insurers are actually spending to fund the reform provisions.

To learn more:
- here's the bill and Cornyn's statement
- read The Hill's Healthwatch article
- see the Law360 article