Trump Plans To Curb High Drug Prices By Overhauling How Medicare Pays For Medications
President Donald Trump will speak today about the proposal, described to Politico by three individuals with knowledge of it. The Trump administration will say that Medicare could save more than $17 billion over five years, but officials also expect blowback from the industry and hospitals.
Trump To Propose Sweeping Changes To Medicare Drug Prices
President Donald Trump on Thursday will unveil a plan to overhaul how Medicare pays for certain drugs, attacking “foreign freeloaders” that he says have driven up costs in the U.S. The bold move addresses a Trump campaign pledge to lower drug prices, just days before the tightly contested midterm elections in which health care is playing a pivotal role. Trump is scheduled to outline the details in a speech at HHS at 2 p.m., his first address at the health department. The proposal, described to POLITICO by three individuals with knowledge, still needs to be refined and put through a federal rulemaking process. (Karlin-Smith and Diamond, 10/25)
Trump Set To Give Thursday Speech On Drug Prices
The remarks come on the heels of two major drug pricing wins for the administration. HHS unveiled a proposed regulation last week that would require drug companies to include prices in their TV ads, and earlier in October, Trump signed into law a bill banning gag clauses, which prevent pharmacists from telling customers when it’s cheaper to pay cash for a drug rather than using insurance. (Florko, 10/24)