(ReliableNews.org) – The rising cost of drug prices in America touches millions of families. There are countless stories of people trying to ration their insulin or not picking up other life saving medications because of the cost, and dying as a result. That’s why President Donald Trump has taken so many steps to reduce the cost on the American people. It looks like he’s going to pass another measure.
Trump’s New Rules
On Friday, November 20, President Donald Trump held a press conference to announce new rules to lower the price of prescription drugs. There are two new measures that were finalized and expected to take effect.
The first rule requires pharmaceutical companies that make brand name drugs to offer redirect rebates to Medicare patients. The rebates used to go to middlemen called brand managers. The Trump Administration believes this will lower the cost of medications by an average of 26 to 30% for individuals. The rule will go into effect on January 1, 2022.
The other rule will allow Medicare to buy drugs at the same price as other advanced nations who often receive them at a lower cost. The president believes it’ll reduce prices by $28 billion. It will also take effect on January 1, 2021.
— The White House (@WhiteHouse) November 20, 2020
What Happens If Biden Wins?
If Biden is sworn in on January 20, he could reverse the rules because they weren’t passed by Congress. It’s unclear whether he would do that, though. It would hurt the American people and that wouldn’t win him favor with voters. Members of both parties have said they want to reduce the price of drugs, but have failed to do so.
President Trump made a solid effort to bring the cost down over the last four years using executive actions. Unlike most politicians, he has made an effort to keep all of his promises.
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