Donald Trump has rescinded an executive order from President Joe Biden that sought to lower the price of drugs.

A provision about insulin in the Inflation Reduction Act is conflated with a 2022 executive order by former President Joe Biden on lowering prescription drug costs in posts online that suggest President Donald Trump has canceled the $35 insulin co-pay cap for certain Medicare programs.

President Donald Trump’s Day One executive order rescinding Biden-era Medicare and Medicaid price innovation programs signals sweeping changes to the drug and treatment pricing agency within the Centers for Medicare and Medicaid Services and perhaps a substantive shake-up in two of the largest federal social welfare programs.

President Donald Trump issued a flurry of executive orders during the first ... one of the orders revoked was one that lowered prescription drug costs for people on Medicare and Medicaid. Several VERIFY readers asked us if these posts are true.

Despite online claims, President Donald Trump’s executive orders did not include removing Medicare’s $35 monthly out-of-pocket price cap, which is set by law.

The two-page memo, which is set to take effect on Tuesday night, could impact lower-income households that rely on Medicaid, school breakfast and lunch programs; and the Special Supplemental Nutrition Program for Women,

The temporary moratorium on some federal financial assistance programs was set to take effect Tuesday, setting off widespread confusion.

The order attempts to end federal funding or support for gender-transition care for people under the age of 19. It is set to face legal challenges.

January, the Biden administration released its proposed Medicare Advantage rates in 2026. These are the rates that the government pays insurers for the program to provide low-cost, affordable plans for seniors.