Reducing Drug Prices for Seniors Act.

The "Reducing Drug Prices for Seniors Act" proposes to amend Medicare Part D by requiring that drug coinsurance be calculated based on a drug's net price instead of its list price. This change is set to take effect for plan years beginning on or after January 1, 2026, specifically for costs incurred above the annual deductible and below the annual out-of-pocket threshold.

The bill defines net price as the negotiated price of a covered Part D drug, after accounting for any manufacturer-provided price concessions. By mandating this calculation, the legislation aims to ensure that beneficiaries' out-of-pocket costs more accurately reflect the actual discounted price of medications, thereby potentially lowering their financial burden. This adjustment would apply to drugs subject to coinsurance rather than a copayment.