On Monday, the U.S. House of Representatives passed the “Lower Costs, More Transparency Act of 2023" in a strong bipartisan vote of 320-71. The legislation now heads to the U.S. Senate where it awaits action.

The Big “I" applauds the leadership of House Committee on Energy and Commerce Chair Cathy McMorris Rodgers (R-Washington), Ranking Member Frank Pallone, Jr. (D-New Jersey), House Committee on Ways and Means Chair Jason Smith (R-Missouri), and House Committee on Education and Labor Chair Virginia Foxx (R-North Carolina), for advancing this important legislation.

“The Lower Costs, More Transparency Act" aims to enhance price transparency within the health care system, fostering informed decision-making for patients and employers. In addition, the bill requires health insurers and pharmacy benefit managers (PBMs) to reveal negotiated drug rebates and discounts, providing clarity on the actual costs of prescription drugs.

The legislation supports various aspects of the healthcare system, allocating funds to sustain expiring programs. This includes backing for community health centers that serve patients in rural and underserved areas, supporting training programs for new doctors, preserving Medicaid for hospitals catering to uninsured and low-income individuals, and extending funding for research focused on finding improved treatments and a cure for diabetes.

By investing in these areas, the legislation aims to bolster patient care, health care worker training and community health initiatives.

As further action on this important legislation takes place, the Big “I" will continue to provide members with updates in the weekly News & Views e-newsletter.

Corey Miller is Big “I" director of federal government affairs.