Washington, D.C. – Former President Donald J. Trump’s impact on the health care sector through deregulation has been a significant but often overlooked aspect of his economic legacy. While the current administration under President Joe Biden has been re-regulating various industries, the contrast in approaches between the two leaders is stark, especially in the realm of health care.
One notable achievement of the Trump administration was the deregulation of vaccine production, which proved pivotal when the COVID-19 pandemic hit. The early steps taken by the administration through Project WARP Speed led to the development of vaccines months ahead of expectations, ultimately saving an estimated 183,000 lives.
Another key area of deregulation under Trump was the customization of health insurance plans to suit individual and family needs. By expanding options such as short-term insurance plans, families were provided with more affordable alternatives to traditional Obamacare exchange plans, offering lower deductibles and broader provider networks.
Under the Trump administration, efforts were made to promote personal and portable health insurance, allowing employers to fund individual accounts for employees to purchase health insurance of their choice. This move aimed to provide more flexibility and ownership over health care decisions for individuals.
Telemedicine also saw significant advancements during Trump’s presidency, with barriers to virtual consultations being lifted, particularly under the shadow of the COVID-19 pandemic. The administration’s focus on deregulating telehealth paved the way for greater accessibility and convenience in receiving medical care.
Furthermore, initiatives like the encouragement of ‘focused factories’ in Medicare, expansion of treatments for chronic conditions under HSAs, and the promotion of round-the-clock primary care through direct primary care models were all part of Trump’s broader agenda to enhance health care options for Americans.
While the Trump administration made considerable strides in deregulating and expanding health care choices, there remains a need for further reforms, including the liberalization of Association Health Plans and increased price transparency in hospital services. The continuation of the initial Trump agenda, as outlined in the 2018 Health and Human Services document, “Reforming America’s Healthcare System Through Choice and Competition,” could pave the way for a more consumer-oriented and market-driven health care system.
In essence, Trump’s approach to health care was centered on expanding options, promoting competition, and empowering individuals to make informed decisions about their health care. As the debate over health care policy continues, the legacy of Trump’s deregulatory efforts in the sector serves as a reminder of the potential for innovation and improvement in the American health care system.