Requires HHS to disclose all information reported by health insurance providers
Texas Insider Report: WASHINGTON D.C. Despite the promises made by the President when this law was passed Obamacare is causing health insurance premiums to rise. 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" said U.S. Senator John Cornyn (R-TX) introducing the Patients Right to Know Act to require the disclosure of all new Patient Protection & Affordable Care Act (PPACA) fees and taxes affecting premium costs.
Background on the Bill
- Requires health insurance issuers or sponsors of group health plans beginning in 2016 to disclose the following:
- The annual fee on health insurance issuers;
- The Patient Centers Outcome Research Institute tax;
- Reinsurance contributions;
- Health insurance exchange user fees;
- Risk corridor payments and;
- Risk adjustment charges.
- Protects insurance issuers and group health plans from administrative action by the Secretary of Health and Human Services (HHS) or by a state authority if disclosures are made based upon good faith estimates of the information.
- Requires the Government Accountability Office (GAO) to conduct a study of methods of calculating the impact on average premium costs associated with other PPACA mandates.
The Secretary of HHS is required to make all information reported by the health insurance issuers as well as the information included in the GAO report available to the public through a website.
