Trump signs bills to help patients from overpaying for drugs

Win McNamee  Getty Images North America

Win McNamee Getty Images North America

Insurers will no longer be able to bar pharmacists from telling consumers when paying cash would be cheaper than using insurance for their prescriptions, as a result of bills signed Wednesday by...

President Trump signed two bills Wednesday meant to keep drug prices low and transparent, emphasizing the importance of keeping drugs affordable.

The two bills had broad bipartisan support as a consumer-friendly move to correct "gag rules" that many viewed as an egregious business practice.

President Trump took a step on Wednesday to keep customers from overpaying for prescription drugs.

While Trump has said that prescription drug prices are too high, a recent Associated Press analysis of brand-name prescription drug prices suggests repeated strong criticism from the president hasn't had much impact.

It's the Know the Lowest Price Act of 2018 and the Patient's Right to Know Lowest Price Act.

In May, Trump laid out a series of plans to make pharmaceutical companies more competitive, including reducing the cost of prescription drugs by allowing drug companies to introduce cheaper versions of medications already on the market, stating at the time they were "getting away with murder". Pharmacists who disobeyed faced penalties.

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