President Donald Trump says he plans to summon the leaders of major health insurance companies for a high profile meeting aimed at forcing them to lower prices for American consumers. The announcement came as millions of people face sharply higher premiums next year when enhanced Affordable Care Act subsidies expire at the end of 2025.
Trump made the remarks during an event in the Oval Office focused on lowering prescription drug prices, saying insurers have made excessive profits and should be pressured to pass savings on to patients.
“I’m going to call in the insurance companies that are making so much money, and they have to make less, a lot less,” Trump said. “I’m going to see if they get their price down, to put it very bluntly. And I think that is a very big statement.”
Why Trump Says the Meeting Is Necessary
The looming meeting comes as Congress has failed to extend pandemic era Obamacare subsidies that helped keep premiums low for roughly 22 million people. Those tax credits are set to expire on December 31, and when they do, average out of pocket premiums for tens of millions of Americans are expected to more than double in 2026.
Republicans blocked Democratic efforts to renew the subsidies before leaving Washington for the year. House Speaker Mike Johnson sided with conservatives who opposed extending the credits, leaving the issue unresolved. Democrats have seized on the coming premium spikes, making them a centerpiece of their attacks during a six week government shutdown earlier this fall.
Trump appears to be offering a different solution. Rather than reviving subsidies that send government money through insurers, he says he wants insurers themselves to lower prices.
“But there’s another way of doing it, and that’s getting the insurance companies to ease up and to cut their pricing way, way down, and stay part of the system,” Trump said.
What Trump Has Said About Cutting Insurance Prices
Trump has not softened his language when describing the insurance industry. He has repeatedly accused insurers of enriching themselves at the expense of American families and taxpayers.
“They’ve made a fortune,” Trump said, pointing to soaring stock prices. “They’ve had stock prices that have gone up 13, 14, 15, 16, 17 and even 18… they went up 1,800%. Therefore, there’s a lot of fat that can be cut.”
At another event, Trump said he believes a single meeting could produce dramatic results. “I would say that maybe with one talk they would be willing to cut their prices by 50, 60, or 70%,” he said, while acknowledging he had not yet detailed what specific tools the federal government might use to apply pressure.
Trump said the meeting could take place in Florida, where he plans to spend the next two weeks, or at the White House during the first week of 2026. He emphasized the idea came to him spontaneously while watching pharmaceutical executives agree to price cuts.
“This is just an idea that I had standing here watching these great leaders saying that we’re going to have the lowest prices anywhere in the world,” Trump said.
Lessons From Trump’s Drug Pricing Push
Trump’s confidence appears rooted in his recent success confronting pharmaceutical companies. In recent weeks, 14 major drugmakers have agreed to lower prices for Medicare and Medicaid beneficiaries after Trump threatened new tariffs.
Under those agreements, companies committed to align U.S. drug prices with those paid in other developed countries, a policy known as most favored nation pricing. They also agreed to onshore production, offer deep discounts on certain medications, and provide some drugs for free to Medicaid patients.
Health and Human Services Secretary Robert F. Kennedy Jr. praised the deals, saying, “By the end of this term, for 95% of the drugs we will have MFN. In other words, Americans will be paying the lowest price in the world.”
Kennedy added, “People are talking about affordability. Nobody has done anything for affordability greater than this.”
Trump openly contrasted the behavior of drug company executives with insurers, suggesting insurers should follow the same example. “I have a feeling maybe if they would act like these incredible, brilliant, responsible citizens… people that love our country,” he said, insurers might also agree to cut prices.
Investors reacted quickly to Trump’s comments. Shares of major health insurers, including UnitedHealth Group, Cigna, and Humana, fell sharply after his remarks became public. The selloff suggested markets believe Trump’s threats could translate into real financial pressure on the industry.
Insurers have already been lobbying heavily to extend the expiring Obamacare subsidies, warning that their expiration would lead to higher premiums and instability in the individual insurance market. At the same time, they have pushed back against nearly $1 trillion in Medicaid cuts included in the GOP’s One Big Beautiful Bill Act.
Trump’s Broader Vision for Health Care Affordability
Trump has repeatedly said he prefers policies that give money directly to patients rather than routing funds through insurance companies. He reiterated his support for direct payments that Americans could use toward health care expenses, an idea that formed the basis of a Health Savings Account focused Senate bill that failed earlier this month.
Still, Trump said pressuring insurers could stabilize the system without dismantling it. “Maybe we can have reasonable health care without having to cut them out and let it all go awry,” he said.
Trump has promised to move quickly, saying the meeting with insurance executives could happen within days or weeks. He framed the effort as part of a larger affordability push, especially as voters remain frustrated with high health care costs.
“I’m going to call a meeting of the big insurance companies that have gotten so rich by receiving money,” Trump said. “And I’m going to see if they get their price down.”
Whether insurers will agree to significant cuts remains uncertain, but Trump has made clear he intends to confront them publicly and directly, betting that pressure and precedent from the pharmaceutical deals can deliver results for consumers facing steep premium hikes in the year ahead.
