The Premium Transparency Act requires health insurance companies to publicly disclose detailed information about how they spend premiums and handle claims. Starting in 2027, insurers offering individual or group health plans must publish data showing what percentage of premiums goes toward medical claims, administrative overhead, and other costs, with this information presented in a consumer-friendly format on their websites and submitted to the federal government. The bill applies similar requirements to Medicare Advantage plans, requiring them to disclose revenue, claims spending, administrative costs, and profit margins. Additionally, the legislation directs the Secretary of Health and Human Services to issue guidance by January 1, 2028, that establishes standards for presenting insurance information in plain English, covering details like premiums, deductibles, out-of-pocket limits, and cost-sharing amounts for various types of care. The bill also requires health insurance exchanges to include this overhead cost information when comparing qualified health plans starting in 2029, helping consumers make more informed choices about their coverage options.