In a year full of political division and uncertainty, one thing that stands out in stark contrast between the two leading presidential candidates, Donald Trump and Joe Biden, is their approach to health care regulation. Trump’s deregulation efforts, particularly in the health care sector, have had a significant impact on the industry and have led to various reforms that have affected individuals and families across the country.
Trump’s deregulation efforts in vaccine production were evident even before the Covid-19 pandemic hit, allowing for the development of vaccines much earlier than expected, ultimately saving lives. Additionally, Trump’s initiatives in expanding healthcare insurance options have provided families with more affordable choices, particularly through the availability of short-term insurance plans that offer lower deductibles and broader networks, allowing for better protection during medical emergencies.
Furthermore, Trump’s executive orders have allowed for the funding of employee-owned health insurance by employers, a practice that was previously shut down by President Obama. This has given employees the option to purchase insurance that they can take with them from job to job, providing more flexibility and choice in their healthcare coverage. However, congressional action is needed to fully take advantage of these opportunities.
One of the significant changes during Trump’s presidency was the liberation of telemedicine, allowing doctors to bill Medicare for services provided through virtual consultations. This change was crucial during the Covid-19 crisis, enabling patients to receive care remotely and reducing the risk of exposure to the virus. Trump’s administration believed in deregulating telehealth barriers, which had been in the works long before the pandemic hit.
In terms of chronic illness management, Trump’s administration has made progress in allowing first-dollar coverage for maintenance drugs for certain chronic conditions, making it easier for patients to manage their own care effectively. Employers and insurers now have more flexibility in providing coverage for chronic conditions without touching HSAs. However, more can be done to divorce HSAs from high-deductible requirements to allow for more flexibility in cost-sharing decisions.
Overall, Trump’s health policy agenda focuses on choice and competition, arguing that government failures, not market failures, are at the root of many healthcare challenges. Trump’s agenda, outlined in the Reforming America’s Healthcare System Through Choice and Competition document, offers a comprehensive vision for reforming the healthcare system and addressing key issues in the industry. Despite the political divisions and uncertainty surrounding the upcoming election, Trump’s policies have made a significant impact on health care and have the potential to shape the future of the industry in the coming years.
