President Trump signed an executive order aimed at reducing drug prices, including provisions for states to import drugs from Canada. However, many of the measures are less ambitious than his previous proposals. A particularly concerning element of the order directs changes to a 2022 law that could weaken a Medicare price negotiation program, which risks delaying critical drug price reductions. This situation could ultimately lead to an increase in Medicare spending by billions, raising concerns about the impact on beneficiaries under the current law.
President Trumpâs new executive order to lower drug prices aims to import drugs from Canada but introduces potential mechanisms that may increase overall costs to Medicare.
One directive calls for changes to a law that could undermine a negotiation program, delaying price cuts for Medicare drugs and possibly increasing government spending by billions.
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