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Insider’s Report: Trump administration nixes Biden executive order lowering prescription drug costs
On Day One of his administration, President Trump signed an executive order that rescinded an effort by former President Biden to direct Medicare to investigate ways to slash drug costs, including the possibility of a $2 monthly out-of-pocket cap on some generic medications.
The National Committee is deeply concerned this is just the beginning of the Trump administration’s efforts to reverse course on important improvements made by former President Biden to lower prescription drug prices for Medicare beneficiaries, hold Big Pharma accountable for price gouging seniors, and save Medicare billions of dollars.
The Trump administration’s efforts do not impact the drug pricing reforms passed as part of the Inflation Reduction Act, and that include requiring Medicare to negotiate the cost of certain high-cost prescription drugs, capping Part D out-of-pocket drug costs at $2,000 per year and capping monthly insulin costs at $35 per year.
While the Trump administration has promised to rein in federal spending, they are pushing to expand massive tax cuts for the wealthy and huge corporations at a staggering cost of $4.2 trillion. And it’s clear the programs and benefits that seniors have paid into and earned could be the first to land on the chopping block.
The fact is Social Security and Medicare remain overwhelmingly popular with the American public. According to a recent Navigator poll, some 80% of respondents said they want increased funding for Social Security and Medicare — and oppose cuts to either program!
That’s why we must continue to remain vigilant against any effort by the Trump administration to renege on its obligation to millions of older Americans who have worked hard all their lives, contributed to Social Security and Medicare, and are counting on their earned benefits for a secure retirement.
Please join your fellow Americans by signing the National Committee’s urgent Petition to President Trump to demonstrate the overwhelming importance of Social Security and Medicare for millions of older Americans ( [link removed] ) … and send a powerful message that you strongly oppose any proposal, plan or budget that calls for cutting Social Security and Medicare, or rolling back important drug pricing reforms that are lowering drug costs for seniors and saving Medicare billions of dollars!
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Make a donation now to help us keep the pressure on Congress. Your continued support is essential to the National Committee's mission. ( [link removed] )
Bad Bills
The National Committee opposes the reintroduction of the “Finding Federal Savings Committee Resolution ( [link removed] )” (H.R. 36) which would set up a “bipartisan commission” called the Committee on the Elimination of Nonessential Federal Programs to review government programs but does not define “nonessential program.” That could mean virtually anything would be vulnerable to cuts or elimination, including Social Security and Medicare.
According to National Committee Director of Government Relations and Policy Dan Adcock, “This seems like a vehicle to rush program cuts through the House before anyone knows what they are cutting — and to rope Democrats into being part of the charade".
Ask Us!
Whether you’re retired or approaching retirement, our team of experts in the field of Social Security policy is available to answer your questions about benefits.
You can either search our archives ( [link removed] ) for valuable advice on a broad range of concerns or submit your question here ( [link removed] ).
This week’s question is:
I am 75 years old; my wife is 62. I did not start collecting Social Security until age 70 and receive about $1,650 per month benefit. How much can my wife expect to receive at my death, assuming it happens this year? What would her benefit be at age 65, 66, 67?
Click here to read the answer. ( [link removed] )
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Ask Us
Whether you’re currently retired or approaching retirement, we can help answer your questions and provide valuable advice on Social Security.
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Your support sustains our campaigns in Washington to protect and strengthen Social Security and Medicare.
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Social Security Benefits
Learn more about the Social Security program and the policies the National Committee supports that would strengthen your earned benefits.
Fitzpatrick & Dingell Lead Bipartisan Push To Expand Medicare Hearing Aid Coverage ( [link removed] )
The Medicare Hearing Aid Coverage Act is endorsed by the National Committee to Preserve Social Security and Medicare. “American seniors have been sorely lacking access to affordable hearing aids, even though proper hearing care is crucial to good health,” said Max Richtman, President & CEO of the National Committee to Preserve Social Security and Medicare. (January 17, 2025, House.gov, Press Release)
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Drugmakers Just Hiked Prices for Over 500 Medicines ( [link removed] )
Big pharmaceutical companies just raised the list prices for over 500 medicines. For patients in high-deductible health plans or cost-sharing arrangements based on the list price, the increases will hit them hard. (January 13, 2025, Money, Pete Grieve)
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Trump rolls back effort to lower Medicare, Medicaid drug costs ( [link removed] )
President Donald Trump, in signing dozens of executive orders this week, rescinded an effort by former President Joe Biden to lower drug costs by directing Medicare and Medicaid to test models that would bring down prescription-drug prices. (January 25, 2025, Market Watch, Jessica Hall)
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A majority of Americans oppose cuts to Social Security and Medicare ( [link removed] )
This Navigator Research report contains data from a survey on the latest perceptions of public health and health care programs, including Social Security and Medicare, as well as perceptions of a tax plan that would cut these programs, and who Americans see as most likely to benefit from Republicans in Congress’ tax plan. (January 23, 2025, Navigator, Camille Keene)
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The Big Questions of Midlife & Beyond ( [link removed] )
We shouldn't fear older age, but embrace it, says AARP's chief public policy expert, Dr. Debra Whitman. In this episode of our podcast, she tells us that life after 50 can be fulfilling and rewarding. But for everyone to age more securely, we must defeat ageism — which costs our country socially and financially! (January 13, 2025, National Committee’s You Earned This podcast)
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