By Ahmed Aboulenein
WASHINGTON, Jan 15 (Reuters) - U.S. President Donald Trump announced a healthcare plan on Thursday the White House said would lower drug prices and insurance premiums, make prices more transparent and hold insurance companies accountable.
The plan calls on Congress to pass legislation codifying his most-favored-nation drug price deals and making more medicines available for over-the-counter purchase.
Trump's framework, dubbed "The Great Healthcare Plan" and outlined in a White House
fact sheet, includes an insurance cost-sharing reduction program that could reduce the most common Obamacare plan premiums by over 10% and replaces government subsidies for insurance with direct payments to Americans.
The plan also targets by pharmacy benefit managers and requires insurance companies to make public the profits they take out of premiums, and the frequency of denials.
Companies would publish their rate and coverage comparisons on their websites in "plain English" as well as the percentage of revenues paid out to claims compared to overhead costs and profits. They would also be required to publish the percentage of claims they reject and the average wait times for routine care.
Providers and insurers who accept Medicare or Medicaid money would also have to post their pricing and fees.
(Reporting by Ahmed Aboulenein, Ryan Patrick Jones and Katharine Jackson; Editing by Doina Chiacu and Chizu Nomiyama )
