President Trump has announced two groundbreaking changes that will dramatically lower the cost of prescription medications for Americans.
One change will implement the “most favored nation” approach that will limit what Medicare pays for medications. The new change will ensure Medicare pays the lowest price paid by other advanced countries and will save Medicare patients billions of dollars.
The other rule requires drug manufacturers to push rebates and discounts directly to Medicare patients rather than middlemen.
While significant legal challenges will be brought against these new rules, the plan is for these changes to take effect on January 1st.
President Trump said during the announcement of the new changes, “The drug companies don’t like me too much. But we had to do it. I just hope they keep it. I hope they have the courage to keep it.”
Pharmaceutical Research and Manufacturers of America responded to the changes saying they are considering “all options to stop this reckless attack on the companies working around the clock to beat COVID-19.”
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