The President of the United States, Joe Biden, gave an executive order recently to help the Americans save on the medical and drug Costs due to the rising healthcare coverage access.
His order requires the changes in prescription drugs by bringing better rules that promote transparency, which can standardize plans in the healthcare options in the marketplace, which will allow the selling of hearing aids instead of the counter.
This order also includes other initiatives that are likely to increase the economic competition in several different industries, which are described as a lack of competition in the medical field with rising Costs and a decline in the quality of medical supplies and patient care.
The order made by the President has several prescription drug-related options, such as directs the Food and Drug Administration to collaborate with the States and tribes to import the prescription drugs from Canada with utmost safety.
It is also directed to the Department of Health and Human Services (HHS) to raise the support for bio-similar and generally used drugs by creating a comprehensive plan for fighting the high prices over the next 45 days.
Chief advocacy officer for AARP, Nancy LeaMond, stated that her organization was motivated by the President’s moves.
She further added that their recent poll supports lowering drug prices. Supporting this, over 70% of the older generation members also said it is crucial to decide.