Press Releases

Today, Congresswoman Suzan DelBene (WA-01) announced that 15 additional prescription drugs have been selected by the Biden administration for Medicare price negotiations. This is the second round of negotiations authorized by Democrats’ signature Inflation Reduction Act, which is designed to lower costs for seniors and families. 

Negotiations with participating drug companies for these 15 drugs will occur in 2025 and negotiated prices will become effective in 2027. Between November 2023 and October 2024, about 5.3 million people with Medicare Part D coverage used these 15 drugs to treat conditions, such as cancer, type 2 diabetes, and asthma.

“Washington seniors need relief at the pharmacy counter and the Inflation Reduction Act is focused on reducing prices on some of the most commonly needed prescriptions they use. This second round of negotiations shows that the law will continue to deliver relief for one of the biggest expenses for Medicare patients long into the future. I commend President Biden for continuing to lead on this effort and I will remain focused on reducing prices for seniors and families moving forward,” said DelBene.

In the first cycle of negotiations, Medicare negotiated with the participating drug manufacturers and reached an agreement on new, lower prices for all 10 drugs that were selected, slashing the price of some of them by 40 to 80 percent. Those prices will become effective starting January 1, 2026. If the new prices had been in effect in 2023, they would have saved $6 billion in prescription drug costs.

Other cost-saving provisions in the Inflation Reduction Act include a $35 monthly cap on insulin, a $2,000 annual cap on prescription drugs, free vaccines for seniors, and reduced health insurance premiums for people enrolled in Affordable Care Act plans.

More information about today’s announcement can be found here.