Yahoo Finance July 13, 2021
Adriana Belmonte

President Biden’s recent executive order aims to help Americans save on medical and drug costs while expanding health care coverage access.

His order requires changes with prescription drugs, enhancing price transparency rules, standardizing plan options in the health care marketplace, and allowing hearing aids to be sold over the counter.

The order — which includes other initiatives meant to increase economic competition in other industries as well — described these targeted areas as “where lack of competition in health care increases prices and reduces access to quality care.”

Here’s how it might impact your health care.

Cheaper prescription drugs

The order has several prescription drug-related directives. 

It directs the Food and Drug Administration (FDA) to work with states and tribes...

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