CMS Drug Negotiations for Part D

The Centers for Medicare & Medicaid Services (CMS) has announced the first 10 drugs covered under Medicare Part D selected for negotiation.

1.      Eliquis

2.      Jardiance

3.      Xarelto

4.      Januvia

5.      Farxiga

6.      Entresto

7.      Enbrel

8.      Imbruvica

9.      Stelara

10.  Fiasp; Fiasp FlexTouch; Fiasp PenFill; NovoLog; FlexPen; PenFill

The negotiations with participating drug companies will occur in 2023 and 2024, and any negotiated prices will become effective beginning in 2026. The selected drugs accounted for $50.5 billion in total Part D gross covered prescription drug costs, or about 20%, of total Part D gross covered prescription drug costs between June 1, 2022 and May 31, 2023, which is the time period used to determine which drugs were eligible for negotiation.

The following is a summary of the key dates for the first year of the Inflation Reduction Act’s Medicare Drug Price Negotiation Program:

1.      By September 1, 2023, CMS published the first 10 Medicare Part D drugs selected for the Medicare Drug Price Negotiation Program.

2.      The negotiated maximum fair prices for these drugs will be announced by September 1, 2024.

3.      Prices will be in effect starting January 1, 2026.