- Trump rescinds Biden's executive orders aimed at lowering prescription drug costs.
- Potential implications for drug pricing models and overall medication affordability.
- Public concern over rising medication costs continues to grow.
- Analysis of how policy changes could affect individuals' healthcare expenses.
BROADCAST TRANSCRIPT:
Saving money on medications gets almost everyone's attention and with so many Executive Orders overturning what went through in the Biden Administration, we had to see what that means for your prescription costs.
One of the Biden era executive orders President Trump rescinded urged for lowered costs for prescription drugs and for the development of drug pricing models to lower costs for Medicare and Medicaid beneficiaries.
"The first item President trump is signing is the rescission of 78 Biden era executive action, executive order memoranda and others," said a Trump staffer.
With that move, questions started. Especially for some popular medications. According to the U-S Department of Health and Human services 15 drugs are up for negotiation in 2025 under the Inflation Reduction Act including: Ozempic, Wegovy, and Rybelsus. With the new prices intended to be in place in 2027.
Kimmie Sharp is a nutrition therapist who specializes in obesity management and works with individuals who rely on these medications.
"It has been incredible to see the impact that, the 3 drugs of interest can have how they've affect people's lives," said Sharp.
Negotiated prices already agreed to are expected in 2026 to save people on medicare $1.5 billion in out of pocket costs.
But, the future of negotiating medicare and medicaid prices is uncertain right now because of the switch in administrations.
Sharp says at this time there is no indication that prices will go up, but it's something to keep on your radar… and there's even some good news for worried neighbors.
"Things have not been affected as of yet for folks worried about the cost of insulin or about, you know, even potential Medicare rebates right now, those have not been affected," said Sharp.
Though drug prices have not increased, Sharp believes there is potential for insurance companies to have more flexibility and to set higher prices.
