Ensuring Access to Lower-Cost Medicines for Seniors Act of 2026.

This bill, titled the "Ensuring Access to Lower-Cost Medicines for Seniors Act of 2026," aims to enhance access to more affordable medications for Medicare Part D beneficiaries. It mandates that Prescription Drug Plan (PDP) sponsors, starting in 2027, must include specific generic drugs and biosimilar biological products on their formularies. For generic drugs, the bill requires the inclusion of any covered generic drug with a wholesale acquisition cost lower than its reference drug, placing it in a preferred position . This preferred position means the drug will be on a more favorable formulary tier with lower patient out-of-pocket costs. Similarly, plans must include at least two covered biosimilar biological products that have a lower wholesale acquisition cost than their reference biological product, also in a preferred position. Furthermore, the legislation prohibits PDP sponsors from imposing more restrictive access limitations, such as prior authorization or step therapy, on these required generic drugs or biosimilar biological products compared to their higher-cost reference counterparts. This provision ensures that beneficiaries can readily access these lower-cost alternatives without undue barriers, promoting cost savings and broader medication availability.