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President Donald Trump signed an executive order to make healthcare prices transparent, which his administration is hoping will save Americans some 80 billion dollars in 2025 alone. The No Surprise Act of 2020 aimed to protect consumers from surprise medical bills by limiting out-of-network cost-sharing and requiring health care providers to give "good faith" estimates...Click Here.

Because the Trump Administration thought further action was necessary, it seems the No Surprise Act did not do enough. People have been undergoing medical procedures without sometimes having any idea of what the costs will be. It is hard to imagine someone making a purchase not knowing what it will cost, but that has been the practice in medicine for many years. The goal of transparent pricing is to make companies more competitive with one another. According to Debt.org, healthcare spending topped 4.3 trillion dollars in 2021 and 60 to 65% of all bankruptcies are attributed to medical expenses. No one can afford to get sick. Doctors take the Hippocratic oath to do no harm, but what they charge seems hypocritical...Click Here.

How these exorbitant amounts are justified is a mystery. The Affordable Care Act did not seem to make care much more affordable, either. Because of soaring prices, most people are forced to rely heavily on insurance to pay healthcare costs, but insurance itself may be the culprit. The use of sliding fee scales was commonplace until insurance giants got involved… Click Here.

It would seem logical that insurance companies have an advantage if they are relied upon for payment of medical bills. One could imagine that insurance companies have leverage to negotiate better rates, even if pricing is legitimate. Yet, this is not the case which may mean doctors and insurers are working together to some degree. Furthermore, even if you knew what you must pay prior to undergoing a procedure still does not mean that you can afford it.