President Trump announces Great Healthcare Plan to reduce medical costs
"This plan will deliver money directly to the American people, not insurance companies, big pharma and special interest groups—putting patients over industry leaders’ profits, just as he promised. The Great Healthcare Plan also builds on the successes of his first term by promoting competition, eliminating wasteful spending, and putting consumers back in control," the White House detailed in a statement.
Trump in Detroit, Michigan/ Mandel Ngan
The White House announced Thursday that President Trump will carry introduce the "Great Healthcare Plan to cut costs and deliver money directly to people." According to the Administration, it is a health care initiative that will reduce prescription drug prices, lower insurance premiums, hold large insurance companies accountable and maximize price transparency in the health care system.
The proposal would need to be approved by Congress.
"This plan will deliver money directly to the American people, not insurance companies, big pharma and special interest groups—putting patients over industry leaders’ profits, just as he promised. The Great Healthcare Plan also builds on the successes of his first term by promoting competition, eliminating wasteful spending, and putting consumers back in control," the White House detailed in a statement.
In that regard, President Trump detailed in the statement that "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."
"Your prescription drugs will come way, way down and, under this policy, the prices of many drugs will be slashed by 300, 400 even 500% starting this month at Trumprx.gov," President Trump said.
A reduction of at least $36 billion for taxpayers
In addition, the plan funds a cost-sharing reduction program for health care plans that would save taxpayers at least $36 billion and reduce premiums for the most common Obamacare plans by more than 10%, according to the Congressional Budget Office.
"The Great Healthcare Plan requires any healthcare provider or insurer who accepts Medicare or Medicaid to prominently post their pricing and fees in their place of business," he highlighted.
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