Soaring Medicare prescription drug prices targeted in Trump's new executive order

President Donald Trump is seeking to combat soaring prescription drug prices in a new executive order he signed Tuesday The order instructs Robert F Kennedy Jr 's Department of Medical and Human Services DHS to standardize Medicare payments for prescription drugs including those used for cancer patients no matter where a case receives therapy This could lower prices for patients by as much as according to a White House fact sheet Likewise the order also calls to match the Medicare payment for certain prescription drugs to the price that hospitals pay for those drugs up to lower than what the regime pays to acquire those medications the White House commented The order also takes initiatives to lower insulin prices Specifically the order calls for lowering insulin prices for low-income patients or those that are uninsured to as little as three cents and injectable epinephrine to treat allergic reactions to as low as coupled with a small administrative fee according to a White House fact sheet 'SEED OIL-FREE' RESTAURANTS AND FOODS GET HEALTHY STAMP OF APPROVALAdditionally the order attempts to drive down states drug prices by facilitating importation programs that could save states millions in prescription drug prices as well as bolstering programs that assist states secure deals on sickle-cell medications in Medicaid the fact sheet reported The order also requires DHS to seek comment on the Medicare Drug Price Negotiation Scheme which the Biden administration authorized under the Inflation Reduction Act and allows Medicare to directly engage in hashing out prescription prices with drug companies The guidance shall improve the transparency of the Medicare Drug Price Negotiation Activity prioritize the selection of prescription drugs with high costs to the Medicare scheme and minimize any negative impacts of the maximum fair price on pharmaceutical innovation within the United States the order reported Drug prices have significantly ramped up in modern years Between January and January prescription drug prices rose more than and reached an average of per drug product according to the Department of Wellbeing and Human Services Of the prescription drugs included on that list of the price increases exceeded the rate of inflation Previous efforts under the first Trump administration to curb prescription drug prices included installing a cap on Medicaid prescription drug plans for insulin at RFK JR DARES GOVERNOR OF AMERICA'S FATTEST STATE TO DO REGULAR RESIDENTS WEIGH-INSMeanwhile Trump's tariffs on Chinese imports to the U S could mean that healthcare costs are particularly susceptible to price increases Arena research group Black Book Research determined that of experts predict that prices for diagnostic treatments and drugs will rise due to the tariffs according to a survey circulated in February Additionally Trump signaled Monday that tariffs on the pharmaceutical were headed down the pipeline We don t make our own drugs anymore Trump explained reporters Monday The drug companies are in Ireland and they re in lots of other places China Trump signed the executive order Tuesday along with others that seek to prevent illegal immigrants from accessing Social Shield benefits and another one calling to investigate the impact of imported processed mineral on national protection Tuesday's executive order comes days after the Department of Physical condition and Human Services' Centers for Medicare and Medicaid Services narrated states Thursday that the federal regime would cease assistance to states to fund nonmedical services geared toward things like nutrition for those enrolled in Medicaid Fox News' Alec Schemmel contributed to this account