Trump rescinded Executive Order 14087, "Lowering Prescription Drug Costs for Americans," which directed Medicare and Medicaid agencies to research and implement models for lowering the costs of prescription drugs. Separate provisions in the Inflation Reduction Act of 2022 also aimed at lower prescription drug costs are still in effect.

The rescinded order directed Medicare and Medicaid to test ways to lower drug costs for enrollees. Those tests hadn’t started, so current drug prices are unaffected.

Experts suggest that most Americans will not experience immediate changes in their out-of-pocket health care expenses.