President Trump Outlines Plan to Reduce Prescription Drug Costs

President Trump Outlines Plan to Reduce Prescription Drug Costs

This week The President outlined a plan to address prescription drug costs. While there are many facets of his plan that will have to be studied and evaluated, there are at least two parts that we know are steps in the right direction.

We’ve talked recently about ways to get some of the savings that insurance companies receive in the form of negotiated rebates back to you, the patient. Well, it looks like the President wants to get that done. Part of his plan would require insurers to disclose and share a portion of discounts they receive from drug manufacturers with patients. We applaud that move and will support any efforts to make it happen.

We’ve also talked about the “gag” rule that prohibited your pharmacist from telling you about ways that may let you buy your prescription drugs for less than the co-pay and co-insurance you would pay through your insurance. The President said in his plan that he wanted to “Prohibit Part D plan contracts from preventing pharmacists from telling patients when they could pay less out-of-pocket by not using their insurance – also known as pharmacy gag clauses.” This is another way to save you money when you go to buy your drugs.

We will continue to keep you abreast of how the President’s plan will affect you but wanted to be one of the first to share the good news that at least in these areas we are headed in the right direction.

In the meantime it would be great if you would contact your individual Representative and Senators and told them that you want them to stand up for seniors by supporting these two proposals.

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