President Donald Trump announced on Friday that he is planning to call for a meeting with the CEOs of the “big insurance companies” and to demand that health insurance companies lower prices for Americans.
During an event at the White House on Friday, Trump announced that nine pharmaceutical companies had agreed to lower medication prices for Americans as part of his administration’s “most favored nation” drug price policy, according to The Hill. While announcing the agreements reached with the pharmaceutical companies, the president suggested that his administration could persuade health insurance companies to decrease prices for Americans by holding a meeting with the health insurance CEOs.
“I would say that maybe with one talk they would be willing to cut their prices by 50, 60, or 70 percent,” Trump said. “They’ve made a fortune. They’ve had stock prices that have gone up 13,14,15, 16, 17, and even 18 — think of this — they went up 1,800%… Therefore, there’s a lot of fat that can be cut.”
According to The New York Post, Trump explained that the potential meeting with health insurance CEOs was “just an idea” that he had while “standing here watching these great leaders saying that we’re going to have the lowest prices anywhere in the world.”
“I’m going to call a meeting. It could be in Florida this coming week, or it could be back in the White House the first week, not the second or third week,” Trump stated. “I’m going to call a meeting of the big insurance companies that have gotten so rich by receiving money — and really far, far more money than they’re entitled to.”
“And I have a feeling maybe if they would act like these incredible, brilliant, responsible citizens behind me,” Trump added. “I’m going to call a meeting of the insurance companies. I’m going to see if they get their price down, to put it very bluntly.”
The New York Post reported that Trump claimed health insurance companies that are “making so much money” need to make “a lot less” so that the United States can “have reasonable health care without having to cut them out and let it all go awry.”
Trump’s comments at Friday’s event at the White House came after he issued a scathing criticism of health insurance companies on social media. In a statement on Truth Social, the president wrote, “Insurance companies are ripping off America. Healthcare money must go directly to the PEOPLE. Dems must get on board!!!”
The president’s emphasis on lowering health insurance costs comes as Democrat lawmakers continue to push for an extension of Affordable Care Act subsidies, while Republicans continue to push for alternative health care solutions.
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