Right now, most Americans shop for health care blind. When shopping blind, it easy to get taken advantage of. The average family of four spends more than $28,000 per year on health care and coverage and prices are going up. Having the ability to choose care at transparent cash prices could result in potential savings of $11,000 per year for each family. That’s real income that Americans can spend on food, housing and savings. Recently. Economist Brian Blasé teamed with YourUpdateTV to discuss the financial impact of healthcare price transparency.
A video accompanying this announcement is available at: https://youtu.be/JDD1v1xvl_U
The economic windfall would mean employers could create more jobs and increase salaries, as our health care system would stop demanding businesses pay their escalating insurance premiums. Together these economic gains would boost the nation’s economic growth and reignite the economy following the COVID-19 pandemic.
The Healthcare PRICE Transparency Act, introduced June 30 by Senators Mike Braun of Indiana and Chuck Grassley of Iowa and co-sponsored by several others, promises to do just that. The bill would allow patients to know the cost of care beforehand and, more important, would allow them to shop and compare prices for both services and coverage.
For more information, please visit PatientRightsAdvocate.org
About Brian Blase:
Brian Blase, PhD, is an economist and a key architect of President Trump’s health policy agenda. Dr. Blase is driven to improve America’s health care system by empowering consumers, by injecting more competition into the system, and by permitting innovation to flourish. Dr. Blase served as the Special Assistant to the President at the White House’s National Economic Council from January 2017 through June 2019. In that capacity, Dr. Blase coordinated the Trump Administration’s health policy agenda, developed legislative and regulatory strategies, and advised the President, the Director of the NEC, and other senior government officials. Most notably, he led the process to implement an Executive Order that President Trump signed in October 2017 that resulted in three final regulations to expand affordable health coverage options for employers and families and a comprehensive report, Reforming America’s Health Care System Through Choice and Competition.
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