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The rule, set to be enacted in 2021, is likely to face legal challenges. It will require hospitals to post their standard charges for services, including the negotiated rates with insurers and the discounted price a hospital would accept directly from a patient paid in cash. Hospitals will also need to publish the same information for at least 300 "shoppable services," such as X-rays or lab tests.
The federal rule begins a "new era" in price transparency in health care, Health and Human Services Secretary Alex Azar told reporters on a call Friday. "This shadowy system has to change. The patient has to be in control."
Trump's plan comes as health care remains a top issue for voters ahead of the 2020 presidential election. Trump and Congress are also trying to pass legislation before the end of the year that would bring more transparency to health-care costs and, ultimately, lower costs for consumers.
In October, Trump issued an executive order intended to bolster Medicare Advantage, private Medicare insurance for seniors.