Pill bottle with money

The ability for Medicare to negotiate lower prescription drug costs was a key component of last year's Inflation Reduction Act. The Centers for Medicare & Medicaid Services this week issued initial guidance about the requirements and parameters of the Medicare Drug Price Negotiation Program for 2026, the first year in which the negotiated prices will apply.

"Drug price negotiation is a critical piece of how this historic law improves the Medicare program," CMS Administrator Chiquita Brooks-LaSure said. "By considering factors such as clinical benefit and unmet medical need, drug price negotiation intends to increase access to innovative treatments for people with Medicare."

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