Exciting news for Medicare beneficiaries – starting in 2026, the cost of 10 major drugs will be reduced thanks to successful negotiations between the White House and pharmaceutical companies. This move is expected to bring significant savings to both Medicare and its recipients.

Among the drugs that will see a decrease in cost are popular medications like Jardiance, Januvia, and Fiasp for diabetes, as well as Imbruvica for blood cancer and Entresto for heart failure. The prices of these drugs have been slashed by 38% to 79%, making them more affordable for those who rely on them.

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The new prices will come into effect on Jan. 1, 2026. According to the Department of Health and Human Services, this new pricing structure could have saved the Medicare program a significant $6 billion last year. Additionally, Part D recipients could expect to pay $1.5 billion less in out-of-pocket costs for their medications.

Health and Human Services Secretary Xavier Becerra emphasized the importance of these negotiations, stating, “Americans pay too much for their prescription drugs. For the first time ever, Medicare negotiated directly with drug companies, resulting in lower prescription drug costs for American seniors. Empowering Medicare to negotiate prices not only strengthens the program but also puts a check on skyrocketing drug prices.”

For example, Imbruvica, produced by Pharmacyclics for the treatment of blood cancers, will experience a 38% price drop in 2026, making it more accessible to patients. Similarly, Jardiance Boehringer, a drug commonly used for diabetes, heart failure, and chronic kidney disease, will have its price reduced by 66% in 2026, benefiting many who rely on it.

However, the overall impact of these reduced prices on the average Medicare member remains to be seen. Politico reported that existing Part D coverage already covers most of the costs of prescription medications, and the newly-negotiated prices are sticker prices used in negotiations with drug companies, further influencing the final price for consumers.

These negotiations mark a significant step forward, as Democrats have long advocated for the government to be able to negotiate drug prices. President Biden’s 2022 law granted Medicare the authority to negotiate prices for high-cost medications without generics or biosimilars, benefiting millions of Americans.

The selected drugs accounted for a significant portion of total Medicare spending, and negotiations for 15 more medications are already underway for 2027, ensuring more savings for beneficiaries in the future.