President Trump signed multiple Executive Orders on July 24th to greatly reduce the cost of prescription drugs for all Americans. The event too took place at the Eisenhower Executive Office Building located just west of the White House. Individual AMAC members along with members of AMAC’s leadership team were in attendance as President Trump continued to keep his promise to greatly improve the affordability and accessibility of life-saving prescription drugs.
Here is a synopsis of the four Executive Orders the President signed:
- 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. You can read this Order here.
- 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. You can read this order here.
- 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. You can read this Order here.
- 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 this Order will be implemented on August 24, unless Congress finally decides to act after decades of failure.
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.