The Trump administration has unveiled a new healthcare plan.
Great Healthcare Plan Explained
According to a press release from the White House, it is introducing the Great Healthcare Plan to reduce insurance premiums, cut prescription drug prices, ensure big insurance companies are held accountable, and increase price transparency for millions of Americans by requiring hospitals or insurers that accept Medicare or Medicaid to post their pricing.
The plan will reportedly provide Americans with money directly through their healthcare savings accounts, so that they can purchase their own healthcare plans as opposed to the funds being sent to insurance companies, Big Pharma, and special interest groups, the press release states.
President Donald Trump addressed Obamacare as well, claiming it led to people paying more for health care each year and seeing higher premiums. The Great Healthcare Plan will reportedly fund a Cost Sharing Reduction program and slash premiums on several of “the most popular Obamacare plans” by an estimated 10% to 15%.
The White House also claims the Great Healthcare Plan will save taxpayers $36 million, according to the plan’s website.
“I am thrilled to announce my plan to lower healthcare prices for all Americans and truly make healthcare affordable again—we’re doing things that nobody’s ever been able to do, we’re calling it The Great Healthcare Plan,” President Trump said in the news release. “Instead of putting the needs of big corporations and special interests first our plan finally puts you first and puts more money in your pocket. The government is going to pay the money directly to you. It goes to you, and then you take the money and buy your own healthcare… the big insurance companies lose and the people of our country win.”
Pointing to accountability and transparency from insurance companies and healthcare providers, the Great Healthcare Plan will also require that hospitals “prominently post all prices” so there are no surprise bills. Additionally, insurers are to share data on their payout amounts for claims, what claims are being denied, and whether those denials are overturned through appeals.
Seeking Congressional Approval
The Great Healthcare Plan promises to reduce the price of many prescription drugs by 300% to 500% starting in January at Trumprx.gov. It also vows to ensure that the cost of drugs will be the lowest in any nation. Trump is requesting that Congress approve the plan “without delay” to provide relief to Americans.
