Trump Vows to Pass ‘Great Healthcare Plan’ With Crackdown on Insurance Companies
President Donald Trump pledged to push his “Great Healthcare Plan” through Congress during his speech at the Republican midterm convention in Dallas, outlining proposals aimed at lowering healthcare and prescription drug costs while imposing new transparency requirements on insurance companies.
A central part of the proposal would change how certain federal healthcare subsidies are distributed. Trump said he wants to stop sending billions of dollars in additional government payments to insurance companies and instead provide money directly to eligible Americans so they can purchase health insurance themselves.
The plan would also require insurers to provide consumers with significantly more information about their operations. Companies would have to disclose how much of their revenue goes toward paying claims compared with overhead and profits, as well as publish the percentage of claims they deny and average wait times for routine care.
Trump is also calling for a “Plain English Insurance” standard requiring insurers to clearly explain rates and coverage options without relying on complicated industry terminology. Healthcare providers and insurers accepting Medicare or Medicaid would face additional requirements to prominently disclose their prices and fees.
Another major component focuses on prescription drugs. Trump wants Congress to codify his administration’s Most-Favored-Nation drug pricing agreements, which are intended to more closely tie prices paid by Americans to lower prices available in other developed countries. The proposal would also make more verified safe medications available over the counter.
The plan additionally calls for funding cost-sharing reductions for health plans. The White House says the proposal would save taxpayers at least $36 billion and reduce premiums for the most common Affordable Care Act plan by more than 10%, citing Congressional Budget Office estimates.
Trump also promised action against surprise medical bills, telling convention attendees that patients should know what healthcare will cost before receiving treatment. His proposal would strengthen requirements for hospitals and insurers to disclose prices so consumers can more easily compare costs.
The president originally unveiled the Great Healthcare Plan in January and used his Dallas appearance to renew his call for Congress to enact it. The proposal requires congressional action for major components to become law.
Trump included healthcare among a broader collection of legislative priorities he wants pursued during the final two years of his term. The Dallas convention comes ahead of the November midterm elections, which will determine control of Congress and therefore affect the legislative prospects for proposals such as the healthcare plan.