Medicare, Drugmakers Agree To Cut Prices On 10 Costly Drugs Starting In 2026

Medicare and drugmakers have completed negotiations to cut drug prices for 10 of Medicare's most common and most expensive drugs starting in 2026. 

Some medications help manage diabetes, blood cancers, blood clots, and more. 

President of Life Senior Services Eileen Bradshaw says right now, some seniors have to choose between filling prescriptions or their refrigerator, and these price cuts will change seniors' lives. 

Modern Pharmaceuticals are helping people live longer and saving lives. Eileen Bradshaw says she believes drug companies should be making a profit, drug prices are too high. 

"People can't literally afford these lifesaving medications it's an issue. I think that this is really important work being done to bring these drugs back into the affordable realm for the people that need them most," said Bradshaw.

Now the price of 10 drugs could be cheaper by as much as 79%.

"These 10 drugs represent about 20% of Medicare Part D spending they are the most commonly prescribed drugs and people are spending millions of dollars each year just for copay so this is a big deal to seniors," said Bradshaw. 

This is the first time Lawmakers in Washington, D.C. have negotiated. A ban on price negotiations was repealed as part of the Inflation Reduction Act. 

"I guess this was a very lengthy process, sounds like it's been going on for quite a while, and [to] negotiate these drugs and commit that they are going to continue to negotiate a new round of drugs, is very significant, it's good economics," said Bradshaw. 

The White House says the lowered costs will save taxpayers 6 billion dollars. 

"People will see this they are going to feel this in their pocketbooks in 2026," said Bradshaw. 

Starting January 1, 2025, out-of-pocket Medicare Part D expenses will be capped at 2 thousand dollars.