US President-elect Donald Trump has chosen TV personality and surgeon Dr. Mehmet Oz as administrator of the Centers for Medicare and Medicaid Services (CMS). CMS is a key agency that provides health insurance for over 140 million Americans through programs like Medicare and Medicaid.
Trump, who endorsed Oz in his Senate run last year, said he would work with Robert F. Kennedy Jr., the new head of the Department of Health and Human Services, to tackle “waste and fraud” in the healthcare system. Oz, who is also a proponent of unproven treatments for COVID-19, will oversee $2.6 trillion in annual spending.
The CMS administers Medicare, which covers people aged 65 or older and those with disabilities, as well as Medicaid, a state-federal program that provides health insurance to low-income individuals. Trump’s nomination is expected to have mixed reactions from pharmaceutical companies, given Kennedy’s outspoken criticism of the industry.
Oz has been a vocal supporter of expanded Medicare coverage and addressing pricing challenges in the healthcare sector. He previously promoted Medicare Advantage plans on his daytime TV show and challenged the Biden administration’s COVID-19 policies on social media.
Shares of major health insurers rose after the announcement, with UnitedHealth, Humana, and Molina Healthcare seeing marginally increased prices between 1% and 2%. Trump promised to protect Medicare during his campaign but is expected to let federal Medicaid subsidies expire at the end of 2025.
Source: https://www.reuters.com/world/us/trump-picks-dr-oz-serve-cms-administrator-2024-11-19