STATEWIDE, (WOWO) — Indiana Governor Mike Braun has signed House Bill 1004 into law, aimed at regulating high hospital prices in the state.
The bill will revoke the nonprofit status of hospitals with prices exceeding the state average, as determined by the Indiana Office of Management and Budget using 2023 and 2024 data.
Nonprofit hospital systems must submit audited financial statements annually or face a $10,000 daily penalty.
The law will be fully implemented by 2029, allowing hospitals to regain nonprofit status by meeting pricing requirements.
1 comment
As hospitals are screaming to survive because insurance WILL NOT pay the bills of their customers always finding excuses to not pay. How about fine insurance companies for refusal of payment for services? How about standardizing the cost o medical supplies??? And if insurance companies make a PENNY PROFIT they should lose any and ALL tax abatements on properties etc!! Insurance companies pretend to help people but they literally STEAL from people refuse to pay for their care while they die sell their homes to pay bills while giving money to their stock holders. Get rid of the right for insurance companies to make a profit!!! Then cost will be better controlled with all of the above.