As the 2024 election approaches, significant matters such as abortion rights and drug pricing loom large over the healthcare sector. At the Reuters Total Health Conference in Chicago, Ceci Connolly, CEO of the Alliance of Community Health Plans, outlined five key points regarding how the upcoming election could impact healthcare.
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Election Dynamics
Former President Donald Trump began the election season with a strong start, benefiting from President Joe Biden’s unexpected withdrawal and the rise of Vice President Kamala Harris as the Democratic nominee. Trump’s influence is substantial, making the election his to lose, dependent heavily on his actions leading up to November. Despite national polls, the true battlegrounds are the swing states which will play a critical role in determining the outcome. -
Divided Government and Healthcare
The possibility of a divided government with one party controlling the House and the other the Senate could lead to fewer drastic changes in healthcare policies. This stability might actually be beneficial for the healthcare industry, fostering less unpredictability and reducing continual regulatory adjustments. A divided government could also see an extension of enhanced subsidies for health coverage under the Affordable Care Act, preventing a potential rise in uninsured Americans. -
Judicial Influence on Health Policy
A recent Supreme Court decision to overturn Chevron deference has shifted the landscape of health policy. This change restricts the flexibility federal agencies had in interpreting laws, pushing the battleground for policy shaping to the courts. Over time, larger entities in industries like healthcare may challenge regulations they disagree with, although this will be a costly and lengthy process. -
Potential Legislative Action in Lame Duck Session
Regardless of the election outcome, the current government may attempt to finalize certain policies during the lame duck session. There is considerable bipartisan support to extend COVID-19 telehealth flexibilities and address issues with pharmacy benefit managers and drug pricing. Additionally, legislation might tackle pharmaceutical companies’ patent tactics that delay cheaper drugs from entering the market. - Healthcare Policy Under Harris and Trump
Setting abortion aside, Vice President Harris and former President Trump share some similarities in their approach to healthcare; their main focuses are likely to be elsewhere, like the economy and immigration. However, Trump might aim to outdo the Biden administration on drug pricing to appeal to populist sentiments. Conversely, Trump’s approach to expanding Medicaid would likely differ, reflecting less federal involvement.
In summary, the 2024 election holds substantial implications for the healthcare industry, shaped by electoral dynamics, potential governmental divide, judicial influences, legislative actions, and the personal policy tendencies of the candidates involved. Both stability and change are on the horizon, depending on the election outcomes and subsequent government actions.
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