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A NEW HEALTHCARE RULE DESIGNED TO PROTECT CONSUMERS DOES ANYTHING BUT

January 21, 2019 / THE MOTLEY FOOL

Of life's many expenses, there's perhaps none more baffling and frustrating than healthcare. After all, when a car breaks down, your mechanic must provide you with a detailed estimate of what it will cost to fix it, including replacement parts and labor. Medical care doesn't work that way. Often, you'll submit a copay and be on your way, only to receive a flurry of bills later on for services not initially specified or covered by your insurance plan. A new rule, however, is designed to change much of that. Effective Jan. 1, hospitals are now required to list prices for all of their services, thereby giving patients a clearer notion of what to expect. But while it's a good idea in theory, so far, the rule is only adding to consumers' confusion without in any way alleviating the cost burden for patients.