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and maybe it's the way the article is written.

An insurance company doesn't PRICE a procedure, as such, but as you said in your last sentence, they certainly do decide how much they will pay for a particular procedure. If the doctor or hospital has charged above that amount then the patient is on the hook for the balance.

I think the confusion is in the phrase, "which allows insurance companies to set a price for medical procedures." Yes, set a dollar amount for what they will pay. See above.

I know it's unseemly to speak ill of the ACA, but I've come to the conclusion that it was, indeed, written by , and for, the insurance companies. And they will profit, handsomely, I might add, to the detriment of the patients' needs.