On Wednesday, Donald Trump, front-runner for the Republican presidential nomination, released details for his plan to reform healthcare should he be elected president in November.
Trump issued a familiar Republican call to repeal the Affordable Care Act – Obamacare – and also said individuals should be allowed to deduct all of their insurance premiums from the income tax they owe.
1. Completely repeal Obamacare. The plan calls for “elected representatives to eliminate the individual mandate” required by the law.
2. Modify existing law that inhibits the sale of health insurance across state lines. This would allow any health insurance vendor to sell insurance in any state.
3. Allow individuals to fully deduct health insurance premium payments from their tax returns. According to the plan, this would help prevent consumers from slipping through the cracks by making insurance affordable.
4. Allow individuals to use Health Savings Accounts (HSAs). The plan calls for tax-free contributions into HSAs, and that on a person’s death, the money would become part of his or her estate.
5. Require price transparency from all healthcare providers. This, the plan says, would help consumers shop for the best price on medical services.
6. Block-grant Medicaid to the states. This would allow states to fully manage the program that helps the poor get medical care.
7. Remove barriers to entry into free markets for drug providers that offer safe, reliable and cheaper products. This point of the plan would allow consumers access to drugs manufactured by companies overseas.