BREAKING: Trump’s New Prescription Drug Order and Will It Affect Medicare?

A long awaited new prescription drug order was released from President Trump on Sunday, September 13, but experts are questioning the impact and intentions of said order. Is this executive order more bait for the senior vote?

After two months of negotiating, the President’s new executive order expands coverage to those with Medicare to pay the same for their prescriptions as those in other developed countries. This is an act also known as, “the most favored-nation order”. 

In Trump’s words…

“Just signed a new Executive Order to LOWER DRUG PRICES! My Most Favored Nation order will ensure that our Country gets the same low price Big Pharma gives to other countries,” he tweeted Sunday, September 13. 

“The days of global freeriding at America’s expense are over … and prices are coming down FAST! Also just ended all rebates to middlemen, further reducing prices,” Trump tweeted on Sunday, September 13.

Is this actually beneficial for Medicare?

“The focus of any reforms must be on lowering costs for patients, ensuring patients’ access to medicines, addressing the misaligned incentives in the pharmaceutical supply chain and protecting the critical work being done to end COVID-19,” said Stephen Ubl, the president and CEO of the drug industry lobbying group PhRMA in a statement.

 “Unfortunately, instead of pursuing these reforms the White House has doubled down on a reckless attack on the very companies working around the clock to beat COVID-19,” Ubl added.

Ubl presented the push back from the drug industry as “an irresponsible and unworkable policy that will give foreign governments a say in how America provides access to treatments and cures for seniors and people struggling with devastating diseases.”

The order calls on the health and human services secretary to “immediately take appropriate steps to implement his rulemaking plan to test a payment model” putting in place “most favored nations” policy. Translated: As with most executive actions, this only just begins what will be a lengthy bureaucratic process that may or may not ultimately result in the promised policy.

Trump in need of senior votes

In order to gain the senior vote as Trump was able to in the last election, the urgency for the prescription drug order was felt necessary to secure the senior vote again. 

White House spokesman Judd Deere said the president gave “drug companies a month to come up with a counterproposal” but the “negotiations did not produce an acceptable alternative, so the President is moving forward.”

Be sure that Trump will use this prescription drug order on the campaign trail just as he did in 2016. Seniors are a key part of the coalition that carried Trump into office, but polls indicate he isn’t doing as well with them this time around.

Tell us what you think!

Are you voting for President Trump in 2020? Do you think lowering prescription drugs in this way is best for the economy, during COVID-19? Let us know on Facebook.

Logo
Find The Cheapest Medicare Plan Available For You
Compare plans from all the biggest providers to find the right deal for you.
Find The Cheapest Medicare Plan Available For You
Compare plans from all the biggest providers to find the right deal for you.
Logo

Up Next...

blog image

Medicare World Blog

SEE ALL POSTS