Biden administration seeks higher penalties for hospitals that don't publish prices

The Biden administration is proposing to increase the penalty for hospitals that don't comply with a federal rule requiring them to publicly post the prices of their procedures. 

A proposal released Monday by the Centers for Medicare and Medicaid Services would raise the maximum penalty to $2 million a year for large hospitals that don't post online the secret prices they have negotiated with insurance companies for 300 common services and procedures that can be planned in advance. 

The proposal represents a sharp increase from the current maximum penalty of only $109,500 a year for large hospitals, which are those with more than 30 beds.