<a href="mailto:[email protected]?subject=Revision:%20Biden/Executive Order 14087%20-%2020260302210711" style="border:1px solid #555; padding:4px 12px; border-radius:4px; color:#a89ee8; text-decoration:none; font-size:0.9em; background-color:#2a2a2a;">📩 Submit a Revision/Addition</a> <br>In October 2022, President Joe Biden signed Executive Order 14087, titled "Lowering Prescription Drug Costs for Americans." This order directed the Department of Health and Human Services (HHS) to explore and implement innovative payment and delivery models to reduce prescription drug costs within Medicare and Medicaid. The goal was to increase access to affordable medications and improve health outcomes for Americans. Additionally, in August 2022, President Biden signed the Inflation Reduction Act into law. This legislation granted Medicare the authority to negotiate prices for certain high-cost prescription drugs, aiming to lower expenses for both the program and its beneficiaries. The act also introduced measures to cap out-of-pocket costs for Medicare recipients and penalize pharmaceutical companies that increase drug prices faster than inflation. However, on January 20, 2025, President Donald Trump revoked Executive Order 14087, creating uncertainty about the future of the initiatives it supported. Despite this revocation, key provisions of the Inflation Reduction Act, such as caps on insulin prices and annual out-of-pocket drug costs for Medicare beneficiaries, remain unaffected. These actions reflect ongoing efforts and challenges in the U.S. government's approach to managing prescription drug prices.