As part of his America First Healthcare Plan, President Trump announced that "33 million Medicare beneficiaries will soon receive a card in the mail containing $200 that they can use to help pay for prescription drugs." The cards are expected to be mailed in the "coming weeks."
The cards will be partially paid for with savings from the Trump administration's policy that Medicare shouldn't pay more for prescription drugs than the "most-favored-nation price," which is generally the lowest price that a pharmaceutical company charges for drugs sold in other developed countries.
The administration has not released additional information about the prescription drug cards at this point. However, we will provide additional details when they become available.
America First Health Care Plan
The prescription drug card was reportedly a last-minute addition to the president's overall America First Health Care Plan (opens in new tab). Among other things, the plan lays out the Trump administration's desire to:
- Continue health insurance coverage for pre-existing conditions;
- End "surprise billing" for medical costs that patients had no meaningful ability to plan for in advance;
- Dedicate significant resources for COVID-19 therapeutics and vaccines, as well as for treatments for other serious illnesses and conditions;
- Provide access to health coverage tailored to individual needs;
- Establish transparent pricing for medical procedures and drug prices;
- Lower prescription drug costs;
- Improve access to innovative arrangements like direct primary care;
- Enhance patient control over medical records;
- Expand telehealth options; and
- Cut Medicare waste, fraud and abuse.
Rocky is a Senior Tax Editor for Kiplinger with more than 20 years of experience covering federal and state tax developments. Before coming to Kiplinger, he worked for Wolters Kluwer Tax & Accounting and Kleinrock Publishing, where he provided breaking news and guidance for CPAs, tax attorneys, and other tax professionals. He has also been quoted as an expert by USA Today, Forbes, U.S. News & World Report, Reuters, Accounting Today, and other media outlets. Rocky has a law degree from the University of Connecticut and a B.A. in History from Salisbury University.
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