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Ishita Roy

The Great Healthcare Plan Explained: What Is In President Trump's Health Care Proposal?

President Trump on Thursday launched <span>The Great Healthcare Plan</span>, a health care proposal that outlined a set of cost-cutting ideas. The White House website reads: "President Donald J. Trump is calling on Congress to enact the <span>Great Healthcare Plan</span>, a comprehensive plan to lower drug prices, lower insurance premiums, hold big insurance companies accountable, and maximize price transparency."

<h2>What Does This Great Healthcare Plan Offer?</h2>

In terms of lowering the price, prescribed drugs make it to the list, along with insurance premiums. Furthermore, the plan also states "holding big insurance companies accountable" and "maximize price transparency" as the features it will be introducing soon. 

<h2>Great Healthcare Plan By Trump: Lower Drug Prices</h2>

This allows lower prescription prices for all Americans by "codifying the Trump Administration's Most-Favored-Nation deals" to get Americans the same low prices for prescription drugs that people in other countries pay. This had already been introduced before on President's personal website, TrumpRx. On its launch, Trump signed deals with popular weight loss companies to lower their weight loss drug prices. 

This initiative will further allow more over the counter medicines to be available at a cheaper rate. The website mentions that this will lower healthcare cost and increase "consumer choice by strengthening price transparency, increasing competition, and reducing the need for costly and time consuming doctor’s visits". 

<h2>Great Healthcare Plan By Trump: Lower Insurance Premium </h2>

<ul><li>Send the Money Directly To The American People</li><li>Fund cost-sharing Reduction Program</li><li>Cut Kickback Costs</li></ul>

So, what do these mean? The first feature means that the plan aims to stop sending big insurance companies billions in extra taxpayer-funded subsidy payments. Instead, money will be sent directly to eligible Americans to allow them to buy the health insurance of their choice. 

The second feature includes a cost-sharing reduction program for healthcare plans which would save taxpayers at least $36 billion and reduce the most common Obamacare plan premiums by over 10%. 

Lastly, the plan aims to end kickbacks from pharmacy benefit managers to the large brokerage middlemen that deceptively raise the cost of health insurance.

<h2>Great Healthcare Plan By Trump: Hold Big Insurance Companies Accountable</h2>

The first feature 'Create the “Plain-English Insurance” Standard' means that it will require health insurance companies to publish rate and coverage comparison upfront on their websites in "plain English - not industry jargon". This will be done so that consumers can make better insurance purchasing decisions. 

The plan will also require health insurance companies to publish the percentage of their revenues that are paid out to claims versus overhead costs and profits on their websites. 

Lastly, it will require health insurers to publish the percentage of insurance claims they reject and average wait times for routine care on their websites. 

<h2>Great Healthcare Plan By Trump: Maximize Price Transparency </h2>

The plan would require any healthcare provider or insurer who accepts either Medicare or Medicaid to

publicly and prominently post their pricing and fees to avoid surprise medical bills. 

<h2>Why Is Trump's Great Healthcare Plan Is Being Introduced?</h2>

Earlier, polls have found that many voters were unhappy with the rising health care premiums and lawmakers' inability to reach a deal on ACA subsidies. This lapse led to a spike in health-insurance cost of millions of marketplace enrollees. 

“There’ll be ongoing conversations, and we hope to be able to support with specific language for the legislation,” Mehmet Oz, one of Trump’s top health care deputies, told reporters Thursday on a conference call.

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President Trump on Thursday launched The Great Healthcare Plan, a health care proposal that outlined a set of cost-cutting ideas. The White House website reads: "President Donald J. Trump is calling on Congress to enact the Great Healthcare Plan, a comprehensive plan to lower drug prices, lower insurance premiums, hold big insurance companies accountable, and maximize price transparency."What Does This Great Healthcare Plan Offer?In terms of lowering the price, prescribed drugs make it to the list, along with insurance premiums. Furthermore, the plan also states "holding big insurance companies accountable" and "maximize price transparency" as the features it will be introducing soon. Great Healthcare Plan By Trump: Lower Drug PricesThis allows lower prescription prices for all Americans by "codifying the Trump Administration's Most-Favored-Nation deals" to get Americans the same low prices for prescription drugs that people in other countries pay. This had already been introduced before on President's personal website, TrumpRx. On its launch, Trump signed deals with popular weight loss companies to lower their weight loss drug prices. This initiative will further allow more over the counter medicines to be available at a cheaper rate. The website mentions that this will lower healthcare cost and increase "consumer choice by strengthening price transparency, increasing competition, and reducing the need for costly and time consuming doctor’s visits". Great Healthcare Plan By Trump: Lower Insurance Premium This feature includes three things:Send the Money Directly To The American PeopleFund cost-sharing Reduction ProgramCut Kickback CostsSo, what do these mean? The first feature means that the plan aims to stop sending big insurance companies billions in extra taxpayer-funded subsidy payments. Instead, money will be sent directly to eligible Americans to allow them to buy the health insurance of their choice. The second feature includes a cost-sharing reduction program for healthcare plans which would save taxpayers at least $36 billion and reduce the most common Obamacare plan premiums by over 10%. Lastly, the plan aims to end kickbacks from pharmacy benefit managers to the large brokerage middlemen that deceptively raise the cost of health insurance.Great Healthcare Plan By Trump: Hold Big Insurance Companies AccountableThe first feature 'Create the “Plain-English Insurance” Standard' means that it will require health insurance companies to publish rate and coverage comparison upfront on their websites in "plain English - not industry jargon". This will be done so that consumers can make better insurance purchasing decisions. The plan will also require health insurance companies to publish the percentage of their revenues that are paid out to claims versus overhead costs and profits on their websites. Lastly, it will require health insurers to publish the percentage of insurance claims they reject and average wait times for routine care on their websites. Great Healthcare Plan By Trump: Maximize Price Transparency The plan would require any healthcare provider or insurer who accepts either Medicare or Medicaid topublicly and prominently post their pricing and fees to avoid surprise medical bills. Why Is Trump's Great Healthcare Plan Is Being Introduced?Earlier, polls have found that many voters were unhappy with the rising health care premiums and lawmakers' inability to reach a deal on ACA subsidies. This lapse led to a spike in health-insurance cost of millions of marketplace enrollees. “There’ll be ongoing conversations, and we hope to be able to support with specific language for the legislation,” Mehmet Oz, one of Trump’s top health care deputies, told reporters Thursday on a conference call.

the great healthcare plan explained: what is in president trump's health care proposal?

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