President Donald Trump announced a major healthcare reform plan on the 15th, centered on lowering health insurance premiums and prescription drug prices. The proposal serves as an alternative to the subsidies under the Affordable Care Act (ACA, commonly known as Obamacare), which began phasing out this year. For the plan to take effect, it must be passed into law by Congress.

With many Americans already struggling under high inflation, the end of Obamacare subsidies has created a double burden. The announcement appears to be part of a broader push to reduce healthcare costs ahead of the November midterm elections. In a video posted on the White House YouTube channel, President Trump personally unveiled what he called the “Great Healthcare Plan,” stating:
“We’re going to stop sending subsidies to insurance companies and instead send that money directly to you, the people, to lower your premiums.

”He sharply criticized the existing Obamacare system, saying it was “designed to make insurance companies rich.”
“Billions of dollars in taxpayer subsidies caused insurance company stock prices to soar more than 1,700%, while ordinary Americans had to pay higher and higher premiums every year.” Trump continued:
“I’m going to end this shameless scam and put the money directly into healthcare savings accounts in your name. ”Under the plan, Americans would choose their own health insurance plans, gaining access to better care at lower costs.

The president also pledged greater price transparency from insurance companies and healthcare providers to prevent special interests from profiting at the expense of the public.“I will order every insurance company to disclose their premiums and coverage details in very clear, plain English,” Trump said.

“Insurers must reveal exactly how much of the money you pay goes toward actual claims and how much they keep as profit. ”Additionally, he promised that prices for many prescription drugs would drop by 80–90%.
Trump has previously used tariff threats against major global pharmaceutical companies to pressure them into lowering U.S. drug prices. The president urged both the House and Senate to pass the legislation “without delay.”