The president-elect’s stand on 5 key healthcare issues
Donald Trump’s victory Tuesday night pushes key healthcare issues to the spotlight. So where does he stand on healthcare costs, the Affordable Care Act and other important issues? Here’s what providers need to know.
Trump supports consumer-driven health plans. And his proposed healthcare plan calls for tax-free Health Savings Accounts and greater access and portability of CDHPs. He also supports a repeal of the Affordable Care Act’s Cadillac tax—an excise tax on employer plans exceeding $10,200 in premiums per year for individuals and $27,500 for families.
Trump has continually criticized the Affordable Care Act—especially in the wake of recent 25 percent premium increases and the withdrawal of several major insurers. He supports complete repeal of the ACA, including the individual mandate to have coverage. In lieu of requiring insurers to provide coverage to everyone regardless of health status, he said he would work with states to create high risk pools for individuals who have not maintained continuous coverage. In place of refundable premium tax credits, Trump would provide a tax deduction for the purchase of individual health insurance. Still, Trump still wants to keep some parts of the law, including the pre-existing condition exclusion provisions.
Trump proposes to increase consumer choice, provide individual tax relief for health insurance and keep plans portable and affordable. He also seeks to break health insurance company monopolies and enable individuals to buy insurance across state lines.
Trump says the cost of prescriptions drugs needs to drop. He supports allowing government-run Medicare to set drug prices to reduce the growth in healthcare costs.
Dependent care savings accounts
Trump’s plan allows parents to contribute up to $2,000 to a tax-free dependent care savings account. Parents do not have to depend on their employer to set up an account for each of their children, and funds will remain in the account until the age of 18. “Whatever still remains at that time can be used to help offset the cost of higher education for your child,” says Trump.