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.

“Rescinding the cap on insulin at $35 only makes pharmaceutical richer and everyday Americans, including MAGA voters, seriously poorer,” Steven Bechloss—author of the Substack, America, America — posted to the Bluesky social media platform.

Trump stopped a program that had been in the works and was intended to give Medicare recipients access to more than 100 generic drugs for $2 a month, according to another executive order signed on Trump's first day in his new term.

President Donald Trump rescinded an executive order issued by former President Joe Biden aimed at finding new models for lowering drug costs. Trump's action didn't affect the caps on seniors' drug costs or Medicare price negotiations that Biden signed into law.

Trump rescinded Executive Order 14087, "Lowering Prescription Drug Costs for Americans," which directed Medicare and Medicaid agencies to research and implement models for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

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.