Trump reveals ‘The Great Healthcare Plan’ promising direct cash to Americans for coverage

President Donald Trump unveiled his new healthcare plan for Americans dubbed “The Great Healthcare Plan” on Thursday.

“We’re calling it the great health care plan,” Trump said in a five minute video.

“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 health care.”

A brief fact sheet posted on the White House website stated that if the plan is passed by Congress, then insurance companies will no longer receive taxpayer funded subsidy payments. Sen. Bernie Sanders (I-VT) has previously criticized the fact that major health care companies are subsidized by the government, saying this allows companies to increase their profits. Americans will then get to directly choose the healthcare plan of their choice.

Trump said he plans to further reduce insurance premiums by putting an end to “giant kickbacks” paid to insurance brokers and pharmacy benefits managers.

In addition to cutting off subsidy payment to insurance companies, Trump’s health care plan would require “unprecedented accountability and transparency” from insurance companies. This means that companies will be required to use “Plain English” in written explanations of their plans to consumers, to publish the percentage of revenues paid out for claims versus overhead costs and profits on their websites, and to publish rejection rates of insurance claims.

Trump is extending the same level of transparency to hospitals and providers as well, requiring those that accept Medicaid or Medicare to “prominently post all prices at their place of business, so that you are never surprised, and you can easily shop for a better deal or better care.”

The president also said the plan will also codify his previous executive orders ensuring that Americans pay the same “prices for prescription drugs that people in other countries pay.” He estimated that drug prices could fall by 80% to 90%.

The debut of “The Great Healthcare Plan” comes ahead of a Senate vote which would extend subsidies under the Affordable Care Act. Last week, the House passed a three-year-extension on those subsidies, which expired at the end of last year.