Although Trump healthcare had promised to repeal Obamacare and lower prescription costs, some say he has not been successful and has actually weakened the Affordable Care Act considerably.
Trump healthcare revealed the American Patients First Plan on May 4, 2018. President Trump blames the higher drug prices on consumers and drug companies. His plan is to reform rebates that drug companies pay to pharmacy benefit managers.
The negotiation of prices is between health insurance companies, pharmacies and drug manufacturers. PBMs can suggest higher priced drugs as the incentives are created by rebates. Also PBMs can charge insurers more than what they are charging pharmacies which results in different pricing for everyone. This plan came about because there is no regulation.
Trump Healthcare Pledge
Trump healthcare has fulfilled in part the President’s pledge to force providers to list their prices for services. He also recommended that drug manufacturers disclose their prices in their advertisements. This would enable consumers to comparison shop for the best value. Competition typically lowers the pricing.
Trump healthcare also promised to allow the purchase of drugs overseas. This should also bring prices down. President Trump stated back in March 2017, that he wants to allow Medicare to lower prices of prescription drugs through negotiation with pharmaceutical companies. Neither one of these two strategies seem to be in the Trump health insurance plan.
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