President Trump says he will ask US health insurers to voluntarily lower costs, as expiring subsidies threaten a politically damaging premium surge.
WASHINGTON: President Donald Trump said he will urge US health insurance executives to voluntarily lower costs.
He made the off-the-cuff remark while announcing that nine more pharmaceutical companies had joined his drug pricing initiative.
“This is just an idea that I had standing here,” Trump said on Friday.
“I bet you if I called a meeting of the insurance companies, the companies that are involved with health care costs, I would be willing to bet, I think, that they would reduce their prices.”
The announcement reflects growing Republican concern over how soaring health care costs could impact the 2026 midterm elections.
Subsidies under the Affordable Care Act are set to expire at year’s end after lawmakers failed to reach a deal to extend them.
Millions of Americans could see their premiums soar or be priced out of medical care entirely.
Trump has been announcing pricing deals with drug companies, convincing them to commit to “Most Favored Nation” pricing.
This policy matches the lowest price offered in other wealthy nations.
The nine new companies added are Amgen, Bristol Myers Squibb, Boehringer Ingelheim, Genentech, Gilead Sciences, GSK, Merck, Novartis, and Sanofi.
These join similar accords announced recently with Pfizer, AstraZeneca and Novo Nordisk, bringing the total to 14 companies.
Officials said the lowered rates will be charged to Medicaid, the US health insurance program for low-income Americans.
Some drugs will also be available for direct purchase via websites, which patients can find through the upcoming TrumpRx site.
Officials expect the TrumpRx site to be up and running in January.
Companies have been making these voluntary deals after Trump sent a letter to 17 major companies over the summer demanding lower drug prices.
In exchange, drugmakers have received incentives including tariff relief.
Sky-high drug prices are a perennial source of widespread ire in the United States. – AFP
