WASHINGTON, D.C.—President Donald J. Trump “announced that TWO groundbreaking rules are being finalized today that will lower the price of prescription drugs for American patients and seniors!”
“The unprecedented reforms we’re completing today are the direct result of the historic drug pricing executive orders I signed in July. Statutorily, we “had to go through a very long process, and we got it done, I was very proud to have gotten this done. We were pushing it very hard, as we did with the vaccines and other things,” said President Trump.
The first action will save American seniors billions of dollars by prevention middlemen,” added President Trump.
Currently, drug companies provide large discounts on the price of prescription medicines, including nearly $40 billion in rebates to Medicare Part D plans last year alone. Yet often, middlement stop those discounts from going to the patients—which is what we’re interested in; not the middlemen—who need it the most. So the patients are going to be now getting the benefit, instead of these very wealthy individuals.
- The first action will save American seniors billions of dollars by stopping middlemen from withholding discounts from patients.
- Discounts on prescription drugs will go directly to the people who need those savings.
- President Trump: “My Administration will also finalize rules requiring federally-funded health centers to pass drug company discounts on insulin and EpiPens directly to patients.”
- This Administration is “tackling longstanding problems that no other Administration had the guts to do,” said Administrator Verma.
- Administrator Verma: “This administration has delivered real, tangible results: Premiums down in Medicare by 34%—the lowest in 14 years—and some areas saw declines almost as much as 60%. We stabilized the exchange—lowering premiums for the first time—and brought back more plan choices.”
- commitment to lower drug prices & improving access to medications through affordability, the Centers for Medicare & Medicaid Services is announcing the new Most Favored Nation (MFN) Model for Part B drugs & biologicals.
- Administrator Verma: Starting January 1st, the Most Favored Nation (MFN) model will test paying for select, high-cost Part B drugs based, in part, on what other countries pay. This approach introduces market competition into #Medicare, directly and immediately lowering beneficiaries’ costs for drugs.
- “The President’s blueprint was clear: We needed to put American patients first, and our drug pricing system too often puts them last. The system had to change.” Today’s reforms are exactly what that blueprint called for.
- With the final rebate rule, President Trump is taking on a broken system, creating incentives to lower list prices and reduce out-of-pocket spending on prescription drugs by delivering discounts directly to Americans at the pharmacy counter. . hhs.gov/about/news/202
- It could be 40 percent, could be 50 percent, could be much higher than that.
Source: White House Press