Because prescriptions cost almost 3x more in the U.S. than the rest of the world

President Trump last week signed an executive order to lower drug prices. Trump has tasked health secretary RFK Jr. to broker better deals on drugs over the next month, but it’s unclear if the order will impact Americans with private insurance.

A bit of background on drug prices here in the states: We pay more than any other country in the world for prescription drugs. There are many reasons for this. Pharmaceutical companies say research and development factors into the high costs, but Americans get early access to drugs that way. Also, there’s no one negotiator — insurance companies, instead of the government, negotiate the costs of drugs, meaning there’s less negotiating power for buyers. In that same vein, there are no price controls for drugs in our free market.

There’s no doubt drug prices are a complicated issue in America, and what happens in the wake of Trump’s order remains to be seen. But if you’re looking for ways to save on health care costs now, we have some ideas.

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data showing prescription drug cost figures from the U.S.

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