The plan includes key Trump initiatives, such as reduced prescription drug prices and price transparency for providers.
President Donald Trump on Jan. 15 released his administration’s new health care affordability plan, which aims to lower prices through marketplace reforms that include price negotiation, increased competition, and greater price transparency.
Trump’s “Great Healthcare Plan” includes actions the administration has already introduced or is working to implement. If codified in federal law rather than being enforced through executive orders and federal regulations, the provisions are expected to carry greater weight and be more likely to last through future administrations.
“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,” Trump said in a video announcement. He called on Congress to pass the health care plan.
Reducing Prescription Drug Prices
The Trump administration has so far negotiated reduced drug prices for Medicaid patients with 15 pharmaceutical manufacturers through Trump’s Most-Favored Nation Prescription Drug Pricing plan.
The plan calls for pharmaceutical manufacturers to offer their lowest price on drugs to Medicaid customers, as well as to sell some drugs directly to U.S. patients at lower prices, introduce any new medications into the U.S. market at the lowest available price, and reinvest revenue realized from higher drug prices in other developed nations into the U.S. economy.
The policy is aimed at leveling prices between the United States and other developed nations, which have long enjoyed a price advantage over the United States.
Dr. Mehmet Oz, administrator of the Centers for Medicare and Medicaid Services, said the lower drug prices will save Americans far more than the cost of the prescription.
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