“President Donald Trump on Jan. 15 released his administration’s new health care affordability plan, which aims,” says The Epoch Times, “to lower prices through marketplace reforms that include price negotiation, increased competition, and greater price transparency.”
The White House has provided an announcement and a fact sheet as well as a PDF of the plan itself. It’s called The Great Health Care Plan, and the White House urges Congress to make it a key piece of legislation, to make up for the lapse in the failing ObamaCare scheme. Touted features include:
- Codifying the Trump Administration’s Most-Favored-Nation deals to match U.S. prices with those in other countries, expanding access to over-the-counter drugs to boost competition and reduce doctor visit costs, and building on prior actions like affordable insulin and voluntary negotiations. Goal: reduce drug prices.
- Redirecting taxpayer subsidies from insurance companies directly to eligible Americans to choose their own plans, funding a cost-sharing reduction program that saves taxpayers at least $36 billion and cuts Obamacare premiums by over 10%, and ending kickbacks from pharmacy benefit managers to brokerage middlemen. Goal: Reducing insurance premiums.
- Establishing a “Plain English” standard, requiring clear, jargon-free publication of rates, coverage comparisons, revenue breakdowns (e.g., claims paid vs. overhead/profits), claim rejection rates, and average wait times for care. Goal: Holding insurance companies accountable.
- Mandating healthcare providers and insurers that accept Medicare or Medicaid to post prices and fees prominently in their facilities. Goal: Maximizing price transparency.
