S.2617

Reducing Drug Prices for Seniors Act aims to amend Medicare Part D to base coinsurance on the drug's net price instead of the list price.

The Reducing Drug Prices for Seniors Act amends title XVIII of the Social Security Act to change how coinsurance for drugs under Medicare Part D is calculated. Specifically, for plan years starting January 1, 2026, coinsurance for covered Part D drugs will be based on the drug's net price rather than the list price, provided the net price is lower. The net price is defined as the negotiated price of the drug, net of any manufacturer-provided price concessions, as reported in the Detailed DIR Report. This change aims to reduce costs for seniors by ensuring they pay less for their medications.