Subcommittee advances bill to put federal price-transparency rule into state law, members push timing changes

A Commerce and Consumer Affairs subcommittee on Monday voted to advance HB 507 — a bill that would put federal price-transparency requirements for insurers into state law and give the state insurance commissioner authority to adopt implementing rules that mirror forthcoming federal standards.

The change would require insurers to publish standardized, machine-readable pricing information for plan years beginning Jan. 1, 2026, and makes the law’s effective date contingent on federal guidance: the amendment the subcommittee endorsed sets final applicability to six months after finalization of federal guidance issued under Presidential Executive Order 14221.

Committee members said the bill’s purpose is to create an enforceable state mechanism for price-transparency rules the federal government has already been developing, while insurers and their representatives urged caution about…