President Donald J. Trump Is Taking Action to Lower Drug Costs and Ensure That Americans Have Access to Life-saving Medications
Issued on: July 24, 2020
Since the day I took office, I have made reducing drug prices one of my highest priorities.
President Donald J. Trump
EXPANDING ACCESS TO LIFE-SAVING DRUGS: President Donald J. Trump is taking action to greatly improve the affordability and accessibility of life-saving prescription drugs.
President Trump signed four Executive Orders to massively lower prescription drug costs and increase Americans’ access to life-saving medications, including insulin.
The first Order directs federally qualified health centers to pass along massive discounts on insulin and epinephrine received from drug companies to certain low-income Americans.
The second Order will allow State plans for safe importation of certain drugs, authorize the re-importation of insulin products made in the United States, and create a pathway for widespread use of personal importation waivers at authorized pharmacies in the United States.
The third Order will prohibit secret deals between drug manufacturers and pharmacy benefit manager middlemen, ensuring patients directly benefit from available discounts at the pharmacy counter.
The fourth and final Order ensures that the United States pays the lowest price available in economically comparable countries for Medicare Part B drugs.
The United States often pays 80% more for these drugs than other developed countries.
It’s time to reduce the price Americans pay for these costly Part B medications, and absent successful negotiations with drug company executives this Order will be implemented on August 24.
LOWERING PRESCRIPTION DRUG COSTS FOR PATIENTS: This latest action builds on the President’s extensive efforts to drive down prescription drug prices for all Americans.
Prescription drugs saw their largest annual price decrease in over half a century in 2018.
Average basic premiums for Medicare Part D prescription drug plans have fallen by 13.5 percent since 2017, saving beneficiaries $1.9 billion in premium costs.
The Trump Administration has approved generic drugs at historic rates, saving patients $26 billion in the first 19 months of the President’s first term alone.
In May, the Administration announced the Part D Senior Savings Model that will provide Medicare patients options to access a broad set of insulins at a maximum $35 copay per month.
President Trump also signed legislation ending gag clauses that prevented pharmacists from informing patients about the best prices for the medications they need.
PRIORITIZING PATIENTS: Throughout his time in office, President Trump has worked to provide Americans with the highest quality healthcare at the lowest cost.
President Trump has vowed to always protect patients with pre-existing conditions.
The President has increased the availability of short-term, limited duration plans and Health Reimbursement Arrangements, empowering patients with more choice in healthcare.
To ensure access to care while reducing the risk of COVID-19 exposure for both patients and healthcare providers, the President has drastically expanded access to telehealth services.
The President has empowered patients with more choice in healthcare by increasing the availability of lower cost health insurance plans and Health Reimbursement Arrangements.
The Trump Administration has also taken action to improve transparency in healthcare prices, encourage competition, lower costs, and put patients in charge of their health decisions.
The White House