Trump says he will haul in ‘rich’ health insurance CEOs to force them to cut costs: ‘They have to make less — a lot less’
President Trump announced Friday that he intends to call a summit with the CEOs of health‑insurance firms, urging them to slash their rates “browbeat” them into compliance after he successfully pressured pharmaceutical companies with tariff threats.
The comment followed a spontaneous post on TruthSocial in which he vented about insurers “ripping off America,” citing a recent op‑ed about record corporate profits.
“I would say that maybe with one talk, they would be willing to cut their prices by 50, 60, or 70 %,” Trump told a crowd that had watched nine drug‑maker executives agree to lower drug costs to match prices in other developed nations.
He added that “they’ve made a fortune … there’s a lot of fat that can be cut,” noting the dramatic climb in stock values that some insurers have seen, even up to 18 percent points and a 1,800 % surge, though he stopped short of explaining which federal tools he would employ.
Trump said the plan was a “just an idea” that had formed while watching leaders declare that the United States would achieve the lowest prices worldwide.
The former president pledged to pressure insurance leaders he decries as excessively wealthy, hoping to appease public worries that have dampened his economic standing ahead of next year’s midterms.
“I’m going to call a meeting. It could be in Florida this coming week, or it could be back in the White House the first week, not the second or third week,” he said. “I’m going to call a meeting of the big insurance companies that have gotten so rich by receiving money — and really far, far more money than they’re entitled to.”
He went on to express confidence that, if the “incredible, brilliant, responsible citizens” behind him acted, the insurers would drop their rates “to put it very bluntly.”
The proposed summit comes at a time when roughly 22 million middle‑class Americans buying plans through Affordable Care Act exchanges face higher costs as pandemic‑era subsidies expire, a policy that Democrats have struggled to extend.
“I’m going to call in the insurance companies that are making so much money, and they have to make less — a lot less — and maybe we can have reasonable health care without, without having to cut them out and let it all go awry,” Trump said.
The meeting will likely be held either in Florida or back at the White House in the first week after his Christmas trip to Mar‑a‑Lago.
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