Lower Premiums, Faster Payments Act

This bill changes federal surprise medical billing rules for private health insurance. For out-of-network items and services furnished on or after January 1, 2028, the payment amount would be the plan's qualifying payment amount, and the independent dispute resolution process would apply only to years ending on or before December 31, 2027. The qualifying payment amount for 2028 would be based on a plan's median contracted rates as of January 31, 2019, raised by consumer price inflation, and then raised by inflation each year after. In those cases, plans would have to pay within 30 days after the provider sends the bill. The bill also requires updated federal rules within 180 days, bars court review of the payment method, and requires yearly audits of at least 25 plans' claims data with public findings starting in 2028.

Full text and official record on Congress.gov

Sponsors

• Frank Pallone, Jr. Democrat sponsor
• 0 cosponsors