Trump rescinded Executive Order 14087, "Lowering Prescription Drug Costs for Americans," which directed Medicare and Medicaid agencies to research and implement models for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.

Trump's order, signed shortly after his inauguration on Monday, targets policies his administration calls "deeply unpopular" and "radical," NBC News reported. One of those now-cancelled policies directed Medicare to investigate ways to slash drug costs, including the possibility of a $2 monthly out-of-pocket cap on some generic medications.

Trump’s executive order halts an effort to cap the copayment for generic medications at $2 for Medicare beneficiaries.

The rescinded order directed Medicare and Medicaid to test ways to lower drug costs for enrollees.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.

Among the dozens of Biden-era executive orders he rescinded on day one, President Trump nixed one that aimed to explore new health care payment models that would lower prescription costs for Medicare and Medicaid beneficiaries.

WASHINGTON — President Trump began his second term Monday with a sweeping order aimed at reversing dozens of former President Biden’s top priorities, from regulations aimed at lowering health care costs, to coronavirus outreach, Affordable Care Act expansions, and protections against gender-based discrimination.

The move halts several pilot programs, including offering Medicare Part D recipients generic medications for a $2 copay.

A new era has begun in the United States this week. Donald Trump wasted no time in signing several executive orders. US President Trump rescinded Joe Biden's executive order 14087,

The Trump administration’s first drug pricing action — rescinding a Biden executive order encouraging Medicare to help lower prescription costs — is befuddling drug pricing experts.