"I'll also be signing something probably this week which is going to go a long way to take care of so numerous people that have been so badly hurt on healthcare", Trump said.
"With Congress the way it is, I chose to take it upon myself", Trump added, saying the plan is "largely worked out".
President Donald Trump on Tuesday used former Secretary of State Henry Kissinger as a misleading example of rising healthcare premiums under the Affordable Care Act, the healthcare law better known as Obamacare.
The problem is that executive orders aren't laws, and by constitutional definition, the President can't create and pass his own laws.
Trump said his action would let insurers sell across state lines.
It is unclear when these plans would become available.
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Association health plans, where people are able to band together to purchase a plan, already exist, but Trump's change could allow them to get around Obamacare rules.
Moreover, as The Hill reported, if Trump does sign an Executive Order similar to the one described above, it could face legal challenges, particularly if, in addition to groups of people and small businesses, it also allows individuals to buy association plans and thwart the Obamacare marketplace and Obamacare plan requirements.
"If this executive order is anything like the rumors then it could have a huge impact on stability of the individual insurance market", said Larry Levitt, a health policy expert at the Kaiser Family Foundation. Rand Paul, the Kentucky Republican who has identified specific reforms that could be made by the President alone.
Though, it is challenging to fully make any determinations about the executive order, since it is still possible that Trump will make changes to its contents or not sign it at all - something which, according to Vox, he has done with other executive actions in the past.
There's also a Republican president determined to say he delivered on his Obamacare repeal promises. They need review and approval by Congress and need to be signed by Trump to be enforceable under USA law. The payments are estimated to be about $7 billion this year and help lower out-of-pocket medical costs for low-income consumers.
His administration has slashed the Obamacare advertising budget, halved the open enrollment period and cut funding to groups that help sign people up for insurance under the law.