Governor Ron DeSantis today signed CS/HB 1113: Health Insurance, also known as the Patient Savings Act. This legislation enables health insurers to offer incentives to Floridians who shop for high quality, lower cost healthcare services.
CS/HB 1113 creates a framework for health insurers to voluntarily establish a shared savings incentive program for certain non-emergency healthcare services. This program not only encourages Floridians to compare pricing for routine services, but has the potential to provide savings to both patients and providers.
“In Florida, we are committed to finding innovative ways to keep healthcare costs low and provide Florida families with the tools they need to take control of their medical expenses,” said Governor DeSantis. “I commend Representative Paul Renner and Senator Manny Diaz for their hard work this session to increase options for all Floridians to reduce their healthcare costs. With the signing of this legislation, we are empowering patients in Florida.”
Photo Credit: Governor’s Press Office
“Florida has stepped up with the Patient Savings Act to give consumers more control over their healthcare and lower their costs,” said Lt. Governor Jeanette Nuñez. “I applaud the legislature for passing a bill that will provide price transparency, efficiency in the healthcare marketplace and ensures Floridians will save money.”
“I am proud of the work we have done together to provide transparency and savings for patients all over Florida,” said Senator Manny Diaz, Jr. “I want to thank Governor DeSantis and Representative Renner for their leadership on making healthcare more affordable in Florida.”
“I want to thank Governor Ron DeSantis for signing the Patient Savings Act,” said Representative Paul Renner. “This new law allows Florida patients to reduce their healthcare costs when they select higher-value medical procedures. Those patients will receive tax-free savings that make healthcare more affordable. Our Florida legislature will continue to work with Governor DeSantis to reduce healthcare costs and improve access for all Floridians, and this new law takes a big step toward that goal.”
Beginning January 1, 2019, a similar program was offered to state employees and, in February, Governor DeSantis sent a letter to Department of Management Services (DMS) Secretary Jonathan Satter directing DMS to focus on strengthening employee participation. In the few months since the program launched, there have been over 130,000 searches on the quality and pricing tool, which are already resulting in savings to the state and its employees.
Additionally, CS/HB 1113 directs DMS to undertake several actions regarding the State Group Health Insurance Program, including authorizing the use of formulary management techniques to ensure access to the most clinically appropriate and effective prescription drugs at the lowest cost, with a projected savings to the state of up to $46 million annually.
At the bill signing, Governor DeSantis also provided an update on his administration’s efforts to increase drug pricing transparency in Florida. In addition to his February letter to DMS Secretary Satter, Governor DeSantis sent a letter to Agency for Health Care Administration (AHCA) Secretary Mary Mayhew directing AHCA to expedite the implementation and promotion of Florida’s healthcare pricing transparency tools. These tools will now provide consumers with more accurate pricing information on what procedures actually cost, rather than what a facility charges prior to any negotiated discount.
For a PDF copy of the letter Governor DeSantis sent to DMS Secretary Jonathan Satter on February 27, 2019, click HERE.
For a PDF copy of the letter Governor DeSantis sent to AHCA Secretary Mary Mayhew on February 27, 2019, click HERE.
