President Trump is securing lower drug prices and reducing foreign freeloading through the finalization of the Most Favored Nation rule.
- President Trump is ensuring that America will no longer pay more than our peer nations for expensive prescription drugs.
- Under the current system, Medicare often spends twice the amount as other wealthy nations on various prescription drugs.
- The Most Favored Nation Rule abolishes incentives for doctors to prescribe more expensive drugs when affordable alternatives are available.
- Changes to this model will result in a projected $85 billion in savings over seven years and nearly $30 billion in out-of-pocket costs alone.
- This rule does not change current Medicare benefits, but ensures that pharmaceutical companies offer the same discounts to the United States as they do to other nations.
President Trump is ending the costly kickbacks to middlemen which only make prescription drug prices drastically more expensive.
- President Trump is ensuring that patients receive the entirety of advertised prescription drug discounts.
- This new rule ensures that Medicare Part D discounts are reflected in the costs, giving patients the knowledge they need to make an informed purchasing decision.
- Before this action, Americans were deceived by discount offers as middlemen received hidden kickbacks, raising the costs for patients.
- Rebates for Part D are typically tens of billions of dollars each year and the savings through this rule for some patients could result in hundreds or thousands of dollars per year.
- Patients will now save up to 30% on some discounted brand name drugs, including insulin.
Under President Trump, Americans now have more choice and pay significantly less for their prescriptions.
- President Trump’s commonsense policies led to the largest year-over-year decrease of prescription drug prices ever recorded.
- Since the President released his blueprint to lower the costs of prescription drugs, inflation has remained flat.
- Every year of the Trump Presidency has resulted in a record amount of generic drug approvals, providing patients with thousands of new and more affordable options.
- Medicare Part D now offers 1,600 plans that have insulin capped at $35 per month, a historic effort that provides affordable options to Americans with diabetes.
- Since 2017, Medicare Advantage premiums have dropped 34% and Medicare premium savings have totaled $3.4 billion.