Reducing Medication Costs

Reducing Medication Costs

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.