During his presidency, Joe Biden had directed Medicare to look at ways to lower drug costs, including whether or not to impose a two dollar monthly out of pocket cap on certain generic drugs.

However, with the Trump administration taking over the reins and reversing this Biden-era policy, could we see an increase prescription drug prices? Experts say it's too soon to tell.

"The Inflation Reduction Act that was signed into law in 2022 is still in place," Stephanie Mrozek with Hometown Pharmacy said. "There is some uncertainty around additional reduction of drug prices but ultimately both the previous and current administrations recognize the need," she said.

Stephanie says this new administration can address prescription drug prices, especially for people that are forced to pay much more for the drugs they rely on each day. Stephanie adds they're anxious to see how the administration will move.

"There are these middle men known as pharmacy benefit managers that are driving up the cost of prescription drugs," Stephanie said. "So if the new administration can keep up the pressure of the anti-competitive practices of these pharmacy benefits managers, drug prices will tend to favor in benefit of the consumer," she said.

At the same time, we're seeing bigger pharmacy chains like Walgreens and Rite Aid close and the country is also losing its smaller independent pharmacies at a rapid rate.

Matt Mrozek with Hometown Pharmacy said this could really be a problem, as the smaller pharmacies fill a void.

"Local pharmacies tend to fill in the gap where the bigger chains leave off and it all starts with a personalized experience from what we see on a day to day basis, we just try to take care of each individual patient," Matt said.