Rep. Sykes Votes In Favor Of H.R. 5378, the Lower Costs, More Transparency Act
WASHINGTON, D.C. — Today, U.S. Representative Emilia Sykes (OH-13) voted in favor of H.R. 5378, the Lower Costs, More Transparency Act.
“Since day one in office, I have promised to lower costs for working families in Ohio’s 13th Congressional District, including healthcare costs,” said Rep. Sykes. “The Lower Costs, More Transparency Act makes important progress in making healthcare more affordable for Ohioans in our community. There is still more work to do to ensure that folks have the resources they need to access high-quality, affordable coverage. It is unacceptable that families are going bankrupt trying to stay healthy. I’ll continue working to find solutions that allow people to access the care they need at a price they can afford.”
H.R. 5378 requires health care providers and insurers to disclose certain information about health care costs. It also establishes requirements for certain payment methodologies under Medicare and Medicaid. More specifically, the bill aims to codify the Hospital Price Transparency rule and the Transparency in Coverage rule, which requires hospitals to publish their prices for all items and services as well as insurers to make public their negotiated in-network provider rates for all items and services. This legislation extends price transparency requirements to other providers and services, including labs, imaging providers, and ambulatory surgical centers. There is also an increased transparency provision for pharmacy benefit managers (PBMs) practices, which would make them report their drug pricing practices. This legislation also provides for site-neutral payments for Medicare beneficiaries if a drug is administered in a hospital outpatient department, as opposed to a physician’s office.
Healthcare is one of the largest industries in Ohio’s 13th Congressional District. Since joining Congress in January 2023, Rep. Sykes has toured hospitals throughout Ohio’s 13th Congressional District including Akron Children’s Hospital, Cleveland Clinic Mercy Hospital, and Aultman Hospital.