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As such, Americans want to know what President Donald Trumps second term might mean for prescription drug costs.
It could be such a massive overhaul of how millions of Americans get and pay for their medications.
Heres what you should probably know about the possible changes to prescription drug costs under Trump.
Next, find outwhich states are most and least expensive for healthcare.
Medicare Price Negotiation
The fate of Medicares drug price negotiation program is unclear.
This program for negotiating Medicare drug prices directly with pharmaceutical companies is part of the Inflation Reduction Act.
However, among his plans, he supports allowing Medicare to negotiate drug prices under certain circumstances.
Price Transparency Regulations
Despite his deregulation reputation, Trumps administration might roll out price transparency regulations.
Pharmacies have difficulty knowing they are obtaining the best prices for medications, Dymowski explained.
Dymowski said, While rebates lower drug costs for insurers, these savings often dont reach patients.
This potentially improves medication adherence by reducing financial barriers at the point of purchase.
This focus is likely to continue, potentially leading to faster market entry for generic alternatives to brand-name medications.
The administration may also push for regulatory changes to make generics more widely available.
Dymowski explained, Trump was very pro expediting the FDA approval process in his last term.
This could result in increased competition in the pharmaceutical market, potentially driving down prices for consumers.
This could result in higher prices.
That could be more pro-American companies and save costs for the American patient.
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