Mark Cuban: Trump’s Executive Order on Healthcare Could Save Hundreds of Billions — Here’s Why
Written by
Adam Palasciano
Edited by
Amber Barkley
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
Healthcare in the U.S. is expensive, there’s no doubt about that. In fact, the Peter G. Peterson Foundation found that the United States has one of the highest costs of healthcare anywhere in the world. In 2022 alone, U.S. healthcare spending reached a whopping $4.5 trillion, which averages out to about $13,493 per person.
Whether you’re paying out of pocket for medical care or have a health insurance plan to cover some of the costs, going to the doctor or taking a trip to the emergency room can cost you big time.
However, a recent executive order from President Donald Trump aims to combat high healthcare costs for Americans. While Trump has many critics, billionaire entrepreneur Mark Cuban says this order has positive potential.
The Shark Tank star and part-owner of the Dallas Mavericks has a real-time net worth of about $5.7 billion. He knows more than a thing or two about money, so his thoughts on this Trump healthcare order are worth understanding.
In a recent post on X, Cuban explained a few ways Trump’s order could save Americans hundreds of billions of dollars in healthcare costs.
Remove the Specialty Tier for Prescription Drugs
Cuban thinks that removing the “specialty tier” of prescription drugs and the requirement for consumers to buy particular medications from a specified pharmacy is a key step in lowering drug prices.
“There is nothing special about specialty drugs,” he explained. “They call them special to jack up the price. And of course, have them divest any that they do.”
Require All Pharmacies To Get Reimbursed, Including Independent Ones
Cuban also believes it’s crucial to require all pharmacies — including independent ones — to get fully reimbursed for brand-name drugs and to get rid of the Generic Cost Ratio, which allows distributors to “jack up pricing on generics with the threat of chargebacks,” a move that typically raises prescription drug prices for consumers.
Eliminate Confidentiality Clauses
Cuban explained that confidentiality clauses between insurance companies and drug manufacturers are ultimately bad for the consumer.
“Remove confidentiality clauses,” Cuban wrote. “They prevent companies from talking to manufacturers.”
For example, if an individual’s insurance company could speak with drug manufacturers, such as those making the popular weight loss drug GLP-1, he thinks this change would allow for the creation of wellness plans for patients, which could effectively lower drug prices overall.
Editor’s note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on GOBankingRates.com.
More From GOBankingRates
Sources
- Peter G. Peterson Foundation, “Why Are Americans Paying More for Healthcare?“
- X, Mark Cuban.
