Health plan transparency could save state nearly $4 million annually

Sen. Kyle Loveless filed legislation this year to authorize the Office of Management and Enterprise Services (OMES) to propose a health benefits plan design to incentivize participants to purchase health services from providers with transparent pricing. Senate Bill 172, which was approved by the Senate Appropriations Committee Wednesday, is an effort to help state employees find the most affordable plans to meet their needs while also saving the state money.

“Transparency is important in the free market as it promotes competitive pricing. Unfortunately, there is no transparency among Oklahoma’s healthcare providers and it’s costing the state and taxpayers millions,” said Loveless, R-Oklahoma City. “Having providers post their prices online would drive prices down helping state employees keep more of their hard-earned money and saving the state much-needed funds.”

OMES estimates that the proposal could save the state as much as $3.9 million annually.

SB 172 now goes before the full Senate.