Medicare Drug Price Negotiation Continues; 15 Drugs Selected for 2028 Negotiated Prices
In 2026, CMS selected 15 additional Medicare drugs for federal price negotiation, with new lower prices taking effect January 1, 2028. The program now covers treatments for diabetes, HIV, asthma, arthritis, cancer, and other chronic conditions affecting millions of Medicare enrollees.
The Centers for Medicare & Medicaid Services announced in 2026 that 15 Medicare Part B and Part D drugs have been selected for price negotiation in the second cycle of the Medicare Drug Price Negotiation Program, authorized by the Inflation Reduction Act (IRA). These negotiated prices will take effect January 1, 2028.
Drugs & Conditions Covered
The 15 selected drugs treat type 2 diabetes, HIV, asthma, arthritis, psoriasis, Crohn's disease, and multiple cancer types. Total Medicare spending on these drugs from November 2024 to October 2025 was $27 billion, affecting 1.8 million Medicare beneficiaries. Starting in 2027 and every year thereafter, up to 20 additional drugs can be selected for negotiation.
This follows the first round of 10 drugs that saw negotiated prices take effect in 2026, saving an estimated 9 million Medicare Part D enrollees approximately $1.5 billion in out-of-pocket costs. The earlier drugs saw discounts ranging from 38% to 79% compared to 2023 list prices. For 2026, all Medicare prescription drug enrollees also benefit from an annual out-of-pocket cap of $2,100, with extra assistance available through the Extra Help program.
What This Means for Expat Seniors
If you are an expat age 65+ with Medicare Part D coverage or anticipating enrollment: the program is progressively expanding to control your drug costs. While first-round negotiated drugs already took effect in 2026, these 15 new drugs will see price reductions in 2028. Verify that any chronic medications you take are on the negotiated-drug list at Medicare.gov or consult your Part D plan before year-end. Enroll in Extra Help if your income is below 150–175% of poverty level to maximize savings on medications.
Sources
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