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2020 Executive Order signed to lower prescription drug costs

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White House Administration Announces Historic Action to Lower Drug Prices for Americans

Historic action was taken by President Donald Trump to lower Americans’ drug prices. President Trump recently signed new regulations through an executive order intended to reduce drug prices for some groups of patients and certain drugs. The drugs included are insulin and epinephrine and affect only a small subset of medicare patients. American seniors will directly receive discounts from the dispensing pharmacy, replacing a complicated old system of “middlemen” who in 2018 received more than $30 billion. This will amount to an average discount of 26 to 30 percent saving Americans money on their drug costs.

As well, federally qualified health centers (FQHCs) who purchase insulin and epinephrine in bulk must now pass the savings from discounted drug prices directly on to patients. This will increase access for the 28 million patients who visit FQHCs every year (over six million of whom are uninsured).

A new rule allows states to develop independent importation plans for certain prescription drugs. Insulin products made in the United States and exported can now be re-imported if this is required for emergency care, as defined in the FDC Act.

A method will be created for safe personal importation from pre-authorized U.S. pharmacies.

The Medicare program must now ensure that seniors pay no more for Part B drugs than any comparable OECD country (to take effect in 30 days subject to Congress approval).

HHS Secretary Alex Azar said, “Today’s executive orders will deliver billions of dollars in discounts directly to patients at the pharmacy counter, safe low-cost imported drugs for Americans, the best deals for America on highly expensive drugs, and direct discounts passed on to patients on important drugs from community health centers … making it affordable for American patients to be in control of their own health, their own healthcare choices, and the care they decide on with their own doctor.”

Even with these new discounts, purchasers of insulin and epinephrine will achieve considerable savings when buying from IsraelPharm, and for other prescription drugs and people not eligible for subsidies, the great saving will continue as before. Visit our website to check how you can buy and benefit, and continue to support Israelpharm.

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