It comes as the president continues an all-out effort to sell the public on his economic agenda, dubbed “Bidenomics.”President Joe Biden on Friday announced new proposals aimed at lowering health care costs and taking on so-called “junk fees” in the medical industry
“In America, it sounds corny, but fairness is something we kind of expect,” Biden said while delivering remarks on the initiatives at the White House. “And I don’t know anybody who likes being viewed as having been played for a sucker, taken advantage of.” Tanden argued consumers often do not realize these plans can limit what and how much they cover, which “leaves patients footing the bill, often thousands of dollars worth of surprise charges.” Biden on Friday called it “outrageous.”
The administration will also issue guidance on medical billing, emphasizing, under federal law, plans and providers are not allowed to contract with hospitals and claim they are not “in-network.” The White House argues that leaves consumers paying higher bills for a hospital visit. The Consumer Financial Protection Bureau, Department of Health and Human Services and Treasury Department will also team up to release a Request for Information on the practice of signing patients up for medical credit cards and loans, which the White House says could include teaser rates and deferred interest features and evade certain consumer protections.
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