Treasury Secretary Bessent Prepares to Announce Plan to Lower US Health Costs

TL/DR –

US Treasury Secretary Scott Bessent has said the Trump administration will soon announce measures aimed at reducing US healthcare costs. The move comes as health insurance premiums are set to rise due to the expiration of subsidies at the end of 2025. The administration reportedly opposes extending expanded Affordable Care Act subsidies and favors directly aiding Americans.

Treasury Secretary Plans to Reduce US Health-care Costs

Scott Bessent, the Treasury Secretary, has announced that the Trump administration is aiming to reduce US health-care costs. An official announcement regarding the same is expected this week. The move is in response to concerns raised by Vice President JD Vance about the cost of living and the need for patience from Americans.

Trump Administration’s Approach to Health-care Costs

The White House is in the process of devising a plan to tackle soaring health insurance premiums. Last week, President Trump expressed hope towards settling a plan by January 30th to address the anticipated surge in health insurance premiums caused by subsidies ending in 2025.

Political Pressure and Anticipated Reactions

Recent Democratic victories in Virginia and New Jersey governor races have increased pressure on the White House. The victories were largely attributed to campaigns focusing on affordability, which is a pressing concern ahead of the 2026 midterm elections.

President Trump’s Stand on Health-care Subsidies

While precise details of the plan remain undisclosed, President Trump has shown his distaste towards continuing expanded Affordable Care Act subsidies, which sparked the US government shutdown that concluded on November 12. Instead, he advocates for direct aid to Americans.

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