President Donald Trump is reportedly considering issuing an executive order to lower prices on virtually all name-brand prescription drugs sold to Medicare and other government programs.
In a Reuters exclusive on Wednesday, industry sources say the goal of the order would be to cut prescription drug prices in Medicare's Part D plan. Medications under Part D are taken at home, generally by patients with long-term conditions such as high blood pressure. The administration is reportedly also considering extending the lower prices to health plans for military personnel and their families. The sources told Reuters the order could be announced in the next few weeks.
Earlier this month, the White House decided to scrap a plan that would've required that consumers get the same prescription drug discounts as insurance companies. And earlier this week, two U.S. senators announced a proposal to lower drug costs by forcing manufacturers to pay rebates to Medicare when a drug's price increases faster than the inflation rate. The sources told Reuters the administration may hold off on an executive order if the Senate bill gains enough bipartisan support.