Election day 2020 will mark the end of a divisive election season (or the beginning of the end, depending on how long vote counting takes). For many voters, healthcare has consistently been a top-of-mind issue this election cycle. Democratic and Republican political parties – at national, state and local levels – and presidential candidates have different and competing visions for healthcare policy in 2021 and beyond, which in some cases have driven Americans further apart.
Despite those differences, there is a consensus in healthcare policy that is growing increasingly clear: Price transparency for patients’ medical care and prescription drugs will continue to move forward no matter who claims victory in the 2020 elections.
Just this week, the Trump administration finalized a new healthcare price transparency regulation. It requires insurers to publicly disclose their negotiated prices for medical care and prescription drugs so that patients can understand their medical costs before they receive care or a prescription, instead of only finding out afterward how much their bill will be.
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