On Friday, December 19th, US President Trump stated that he will be convening a meeting with health insurance companies in the upcoming weeks to request them to lower insurance premiums for American citizens.
With the subsidies under the Affordable Care Act (ACA) set to expire at the end of the year, some American households are facing the prospect of increased health insurance premiums in 2026.
“I will be convening a meeting with insurance companies,” Trump told the media at the White House on Friday, “Honestly, I want to try and see if they can lower premiums.”
Trump mentioned that the meeting could possibly take place next week at his Mar-a-Lago estate in Florida or after his return to Washington D.C. in early January.
The President shared that he came up with the idea during an event. He was listening to pharmaceutical company executives who were pledging to donate medication to avoid tariffs.
Following Trump’s remarks, the stock prices of major health insurance companies in the US such as UnitedHealth Group Inc., Cigna Group, and Humana Inc. experienced significant narrowing gains.
While Trump still leans towards a plan of directly giving money to Americans and letting people decide on purchasing health insurance themselves, reaching an agreement with insurance companies to lower premiums could potentially help in retaining the Affordable Care Act marketplace.
“Insurance companies have made a lot of money, they need to make less, significantly reduce profits,” said the President. “Perhaps we can achieve reasonable healthcare without completely eliminating them, thus avoiding total chaos.”
Earlier this week, Congress failed to pass any bills extending the subsidies. Congress has now begun its break.
By 2026, over 20 million Americans are expected to see their average health insurance premiums double, potentially making it difficult for many voters who are already concerned about housing, food, utilities, and other expenses to afford insurance.
Lawmakers will return to Congress in early January to address this pressing issue in less than two weeks as the open enrollment period for health insurance plans ends on January 15th.
Over the past six months, Democrats have been closely monitoring the issue of skyrocketing Affordable Care Act premiums, making it a core demand during the longest government shutdown in history lasting six weeks.