On May 12, President Donald Trump issued an executive order (EO) that aims to bring the prices Americans pay for prescription drugs in line with those paid by similar nations. This legal update summarizes the EO and recent federal agency developments in response to the order.  [Download the full PDF update here]   Employers, providers and payers should stay informed as this directive evolves into actionable policies.  Questions?  If you have questions, contact TruePlan . Our team of advisors can help you with questions within the scope of employee benefits .    This content is for informational purposes only. It has been partially generated from an AI language model, which may not always be exhaustive or tailored to individual circumstances. We encourage you to contact one of our experts for more information. We assume no liability arising from any use of this content. 

Prescription drug spending in the United States continues to rise sharply. According to a new report from the American Society of Health-System Pharmacists (ASHP) , U.S. prescription drug spending reached nearly $806 billion in 2024 (an increase of 10.2% compared to 2023).  [Download the full PDF report]   The main driver behind this growth?   Medications, used to treat diabetes and obesity, have seen rapid adoption and high utilization across many populations. In 2025, several factors continue to impact prescription drug spending:  Tariffs on pharmaceutical ingredients , especially those sourced from China, may lead to shortages and drive patients toward more expensive brand-name medications.  Oncology drug spending is expected to grow as new high-cost treatments enter the market and the use of existing therapies expands.  Vaccine spending has declined post-pandemic , but reduced vaccination rates may contribute to rising costs in other areas of care...

Curious about the future of healthcare costs? In the latest news brief , we reveal how the soaring popularity of weight loss drugs like Ozempic and Wegovy could impact your organization's budget by 2025. Discover key insights into rising pharmacy costs, employer strategies and what it means for your benefits plan.   [Download the report]   Quick summary  The report underscores the significant shift in pharmacy cost allocations as more individuals seek access to these medications. With the increasing acceptance of Ozempic and Wegovy as part of weight management strategies, organizations face new challenges in managing benefit costs.   By equipping yourself with these insights, you empower your organization to ascertain the most effective path forward amidst evolving healthcare landscapes. Prepare for the future by understanding present dynamics and reshaping your benefits strategy accordingly.   Contact us for additional information  If you ha...

Did you know that global spending on prescription drugs will reach nearly $1.8 trillion by 2026?  The United States alone will spend up to $715 billion, according to the IQVIA Institute for Human Data Science . Download a helpful infographic that covers the rising cost of prescription drugs. Plus, get six strategies on how you can mitigate the financial burden of these rising costs. As always, if you have any questions, don’t hesitate to contact us today ! Our team of experts can help you navigate employee benefit plans and their associated components.