Americans are sending a clear message. For the past two elections, they have expressed a yearning for affordability in everyday life. The rising costs of essentials—housing, education, insurance—have left many frustrated. The underlying issue driving this affordability crisis is healthcare, which consumes nearly one-fifth of the economy. For families and employers alike, healthcare represents the single largest expense, quietly draining resources that could be allocated toward wages, job creation, or savings.
The truth is stark: healthcare costs are out of control. Politicians often ignore the root of the problem, opting instead for temporary fixes like subsidies and tax credits that do not address the fundamental issue—rising costs of care itself. The Affordable Care Act, despite its name, has proven anything but affordable. ‘Affordable’ turned out to be unaffordable, many supporters now concede, arguing for more borrowing as a misguided solution that ultimately signifies surrender, rather than genuine reform.
Three undeniable truths are evident. First, the healthcare system is locked in a cycle of growing costs, making it less affordable each year. Second, decades of bureaucratic management—both public and private—have failed to contain these expenses. Third, there is a pressing need to create a new model centered around patients, doctors, and employers rather than expanding the reach of government and insurance bureaucracies.
Current practices hinder competition and innovation, essential elements that have propelled other industries forward. In sectors like travel and retail, clear prices and quality information empower consumers to make informed decisions. Healthcare, however, remains shrouded in secrecy, with costs obscured by a labyrinth of middlemen. Families now spend an average of $27,000 annually on health insurance—essentially the price of a new car. Most don’t fully grasp this burden because payments come from employers or government programs, which shrinks their wages even further.
The consequence of this lack of transparency is a system that encourages waste and inefficiency, where up to 50% of healthcare spending may be administrative rather than medical. Interest groups, insurers, and bureaucracies thrive on the complexity, profiting from the very confusion they create. As shown in the film ‘Jerry Maguire,’ the plea is clear: ‘Show me the money.’ Those who benefit from the status quo are often the loudest defenders of a broken system.
Patients and doctors, however, could reclaim their power if they gain access to transparent pricing information. When armed with knowledge, they can make informed choices, ultimately rewarding efficiency and holding wasteful practices accountable. Transparency doesn’t merely lower prices; it redefines who holds the power in healthcare decision-making.
President Trump’s earlier executive order aimed at price transparency was a significant step in the right direction. It called for hospitals and insurers to publish negotiated prices and established rules making costs known before care is provided. Unfortunately, under the Biden administration, these enforcement efforts have stalled, preventing patients from reaping the benefits of transparency.
This creates an opportunity for Trump to pick up where he left off. The current administration can leverage existing mandates to enforce greater transparency in pricing. The Centers for Medicare & Medicaid Services should act immediately to implement Advanced Explanations of Benefits while the Department of Labor safeguards employers’ access to essential data. If they act swiftly, Americans might start receiving clearer pricing by 2026, allowing Trump to champion a significant victory for higher wages, transparency, and competition in healthcare.
Moreover, Congress can enhance this initiative by passing the bipartisan Patients Deserve Price Tags Act, a bill promoting employer access to pricing data and preventing third-party administrators from obscuring costs. Such efforts can lead to a market that naturally eliminates inefficiencies and empowers negotiations between employers and providers. When pricing is apparent, competition flourishes, eliminating the middlemen who have long benefited from a lack of clarity.
The broader implications are profound. By prioritizing healthcare transparency, the nation stands to lower costs, raise wages, and stimulate investment, positively impacting the economy at large. For Americans desiring a return to affordability, the path begins with transparency in healthcare—a bold and achievable step toward restoring prosperity for working families.
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