Trump's Bold Healthcare Overhaul: Direct Payments and Price Transparency

President Donald Trump's new healthcare plan proposes replacing existing subsidies with direct payments into health savings accounts. Although the administration says it will lower drug prices and insurance costs, critics argue it could disadvantage low-income Americans. The plan also calls for increased transparency from insurance companies and pharmacy benefit managers.

On Thursday, President Donald Trump unveiled a new healthcare plan aimed at replacing government subsidies with direct consumer payments. The plan, which faces a divided Congress, promises lower drug prices and insurance costs while demanding accountability from insurance and pharmacy benefit managers.

Under the administration's proposal, dubbed 'The Great Healthcare Plan,' consumers would receive direct payments into health savings accounts rather than relying on subsidies. The initiative aims to reduce premiums and encourage transparency in pricing, though experts warn it may adversely affect lower-income individuals.

As Congress debates the merits of Trump's plan, which includes the controversial 'most-favored-nation' drug pricing strategy, bipartisan support remains uncertain. With open enrollment closing and premiums set to rise, the administration presses for legislative action amid divided opinions on extending Obamacare subsidies.

(With inputs from agencies.)