Medicare issues guidance on negotiating Part D drug prices

Medicare is getting closer to negotiating lower drug prices as part of the federal plan to reduce costs for beneficiaries.

The U.S. Department of Health and Human Services (HHS), through the Centers for Medicare & Medicaid Services (CMS), this week issued its initial guidance for the Medicare Drug Price Negotiation Program for Price Applicability Year 2026.

The goal: “For the first time, Medicare will be able to negotiate prices directly with drug companies, ensuring lower prices on some of the costliest drugs,” according to CMS.

“For far too long, millions of Americans have had to choose between their prescription drugs and other monthly...