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No More $60/month Insulin [1]
['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.']
Date: 2025-01-31
I want to know why Corporate Media hasn't highlighted the fact that President Trump's Executive Order Reversing Biden's Executive Order 14087 eliminated Medicare's ability to negotiate drug prices with Drug Companies for people who are eligible and use Medicare?
What Was Executive Order 14087?
Executive Order 14087, titled "Lowering Prescription Drug Costs for Americans," was signed by former President Joseph R. Biden, Jr, on October 30, 2023. The order outlined measures to reduce prescription drug costs and improve patient access to affordable treatments.2
“Too many Americans face challenges paying for prescription drugs,” said Former President Biden, in the written executive order. “On average, Americans pay 2 to 3 times as much as people in other countries for prescription drugs, and 1 in 4 Americans who take prescription drugs struggle to afford their medications. Nearly 3 in 10 American adults who take prescription drugs say that they have skipped doses, cut pills in half, or not filled prescriptions due to cost.”
The order consisted of 3 main initiatives:
1. Strengthening Medicare's Negotiating Power: It directed the Center for Medicare and Medicaid Innovation within the Department of Health and Human Services (HHS) to test new payment and delivery models aimed at reducing drug costs for Medicare beneficiaries. This built upon the Inflation Reduction Act (IRA), which allowed Medicare to negotiate drug prices for the first time. Examples of potential models included value-based pricing strategies, where drug costs would be tied to clinical outcomes, and subscription-based payment models, often referred to as the "Netflix model," which allow unlimited patient access to certain drugs for a fixed fee.
2. Supporting State and Local Efforts: It encouraged federal support for state, county, and municipal initiatives to reduce drug costs, including importation programs, transparency measures, and the establishment of local bulk purchasing agreements to negotiate lower prices directly with manufacturers. States like Florida and Colorado had begun exploring drug importation programs prior to the order.
3. Promoting Transparency and Competition: The order sought to curb anti-competitive practices, such as pay-for-delay agreements—in which brand-name drug manufacturers pay generic competitors to delay entering the market—and foster greater availability of lower-cost generic and biosimilar drugs. This initiative also sought to expedite the approval process for generics and biosimilars at the FDA.
"Executive Order 14087 called for CMS [Center for Medicare and Medicaid Services] to test new, innovative methods to lower drug costs," explained Ron Lanton III, Esq, a regulatory attorney and partner at Lanton Law PLLC, in an interview with Pharmacy Times®. "HHS selected 3 drug payment and delivery models which included 'Medicare High-Value Drug List Model.' This model would have allowed Part D sponsors to offer a maximum co-payment of $2 for a month’s supply for certain high value generics. This specific model would have lowered prices for high priced generics that treat diseases such as diabetes."
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