Former President Donald Trump recently sparked a debate on health care during a press conference at his Bedminster golf club. He targeted Vice President Kamala Harris over her support for Medicare for All. While Harris not supports a single-payer health care system, Trump’s words have many concerned about what her presidency could mean for Americans’ health care premiums and taxes.
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Through the press conference, Trump accused Harris of wanting to “abolish very talked-about private medical insurance,” which he claims would force 150 million Americans into “inferior socialist government-run health care systems.” Trump further warned of “massive tax increases” and “rationing and deadly wait times” under such a system. He argued that the U.S. has “the very best health care on this planet” and that Harris’s policies would destroy this method, resulting in what he described as a “communist” approach where “everybody gets health care.”
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While Trump’s statements were alarming, they weren’t entirely accurate. Harris has previously supported Medicare for All, which aimed to exchange private insurance with a universal system. Nonetheless, she has since distanced herself from this plan. A spokesperson for Harris recently clarified, “The Vice President won’t push single-payer as president.” As a substitute, Harris now supports constructing on the Reasonably priced Care Act (ACA), which allows for a mixture of personal and public health care options.
The clash between Trump and Harris on health care highlights a broader debate that would impact your wallet. If Harris did revert to supporting Medicare for All as Trump suggests, that may lead to higher taxes but lower overall health care costs. Nonetheless, that will not be currently where the Democratic candidate’s policies stand.
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Because it stands, Harris has emphasized her support of President Joe Biden’s initiatives to strengthen the Reasonably priced Care Act and lower prescription drug costs. Amongst Harris’s plans for health care, 4 key areas stand out:
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Lower prescription drug costs: Harris passed the Inflation Reduction Act in 2022, which is able to allow the negotiation of prescription drug prices. When these prices go into effect in 2026, Americans will save an estimated $1.5 billion.
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Pharmacy profit managers (PBMs): Harris has stated that she’ll start “by cracking down on pharmaceutical corporations who block competition and abusive practices by pharmaceutical middlemen who squeeze small pharmacies’ profits and lift costs for consumers.”
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Medical debt: The Harris administration plans to work with states to cancel and create policies to assist prevent future medical debts.
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Reasonably priced Care Act (ACA): Subsidies on health care premiums are set to run out in 2025. Harris desires to expand the ACA premium tax credits in order that they don’t expire.
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The U.S. health care system is imperfect and can likely face ongoing reforms no matter who takes office. Americans often pay far more for health care than people in other high-income countries. The ACA has made strides to expand coverage and reduce costs, but many Americans are still uninsured or underinsured as a result of expensive premiums.
Because the 2024 election draws nearer, health care might be among the many top issues for all parties. It’s as much as Americans to take the time to know what each party’s health care proposals will mean for them.
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This text Trump’s Latest Health Care Attack on Kamala Harris: What It Could Mean for Your Premiums and Taxes originally appeared on Benzinga.com
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