President Donald Trump on Thursday unveiled his long-awaited health care plan.
Under the “Great Health Care Plan,” Trump said the federal government would provide money directly to individuals, who could then use it to purchase their own health insurance. White House officials have not said how much money would be provided to Americans, stating they would work with lawmakers to come to an agreement.
Trump believes this approach would give consumers more control over their coverage and reduce premiums.
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"The big insurance companies lose, and the people of our country win," Trump said.
Trump also said the plan would lock in prescription drug discounts through what he described as his “most favored nation” pricing policy, tying U.S. drug prices to the lowest prices paid by other countries. He claims the policy would reduce prices for some drugs by as much as 80% or more.
The proposal also includes new transparency requirements for insurers and hospitals, including publishing prices, coverage comparisons, claim denial rates and profit margins. Trump said any provider accepting Medicare or Medicaid would be required to publicly post prices.
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In his announcement, Trump criticized the Affordable Care Act, calling it the “Unaffordable Care Act.”
"The premiums went higher and higher, " he said. "I want to end this flagrant scam and put extra money straight into the healthcare savings account in your name, and you go out and buy your own healthcare."
Trump called on Congress to pass the framework quickly. A White House official stressed that they believe the president's plan would receive bipartisan support and could be passed this year. However, it's still unclear how the proposal is being received on Capitol Hill as health care debates have been fraught with disagreements.
