President Donald Trump launched TrumpRx.gov earlier this month to lower the cost of many popular medicines by offering prices typically found in other developed countries. The White House says the website is the result of deals with pharmaceutical companies, allowing the Trump administration to offer the “most favored nation,” or MFN, price. However, insurance does not cover these costs, meaning those with commercial insurance will not see these prices count toward their out-of-pocket maximums, and individuals using federal insurance like Medicare and Medicaid cannot use the website. It is solely meant to lower prices for out-of-pocket payments for people who are underinsured or uninsured, but experts say this can help some.”For a lot of people, if you have a $5,000 bill that you must pay before your insurance covers anything, it might be better to not have it accumulate,” SHARx Co-founder Paul Pruitt said. “It’s cheaper today, and this is where a lot of people can make more prudent choices of how their dollars are spent.”This is only for some medications, and not everything is available on the website. The administration says it is working to add more companies to the list, and experts say that will likely come with time and a “proof of concept.”
GREENVILLE, S.C. —
President Donald Trump launched TrumpRx.gov earlier this month to lower the cost of many popular medicines by offering prices typically found in other developed countries.
The White House says the website is the result of deals with pharmaceutical companies, allowing the Trump administration to offer the “most favored nation,” or MFN, price.
However, insurance does not cover these costs, meaning those with commercial insurance will not see these prices count toward their out-of-pocket maximums, and individuals using federal insurance like Medicare and Medicaid cannot use the website.
It is solely meant to lower prices for out-of-pocket payments for people who are underinsured or uninsured, but experts say this can help some.
“For a lot of people, if you have a $5,000 bill that you must pay before your insurance covers anything, it might be better to not have it accumulate,” SHARx Co-founder Paul Pruitt said. “It’s cheaper today, and this is where a lot of people can make more prudent choices of how their dollars are spent.”
This is only for some medications, and not everything is available on the website.
The administration says it is working to add more companies to the list, and experts say that will likely come with time and a “proof of concept.”