California’s ambitious plan to regulate health prices, explained

California is exploring a bold and controversial new plan to rein in health care spending by letting the state government set medical prices.

The bill will no doubt face significant opposition from the health care industry. California has struggled to pass more modest attempts at health care price controls before, like a 2016 ballot initiative that would have allowed the state to regulate drug prices in certain programs.

Still, California’s new proposal is worth examining as one that...

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