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Medicare is now negotiating drug prices — Eliquis is 56% cheaper, Jardiance 66% cheaper. Check your Part D copay.

Updated 2026-06-24  ·  0 primary sources linked  ·  All sides presented

Medicare is now negotiating drug prices — Eliquis is 56% cheaper, Jardiance 66% cheaper. Check your Part D copay.

The Inflation Reduction Act authorized Medicare to directly negotiate drug prices for the first time. The first 10 negotiated prices took effect January 2026. Drugs on the list include Eliquis (blood thinner, −56%), Jardiance (diabetes, −66%), Xarelto (blood clot prevention, −62%), Januvia (diabetes, −79%), and Farxiga (heart failure/diabetes, −68%). About 9 million Medicare beneficiaries take at least one of these drugs. Part D plans must apply the negotiated prices.

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Medicare is now negotiating drug prices — Eliquis is 56% cheaper, Jardiance 66% cheaper. Check your Part D copay.


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What Happened

For the first time, Medicare negotiated directly with pharmaceutical companies on the price of 10 high-cost drugs. The negotiated prices took effect January 1, 2026. They apply to Medicare Part D (prescription drug plans) and Medicare Advantage drug coverage.

The biggest reductions: Eliquis (blood thinner) — 56% lower. Jardiance (diabetes/heart failure) — 66% lower. Xarelto (blood thinner) — 62% lower. Farxiga (diabetes) — 68% lower.

Source: CMS — Medicare Drug Price Negotiation Program

The 10 Negotiated Drugs
Drug Used for Price reduction
EliquisBlood clots, AFib56%
JardianceDiabetes, heart failure66%
XareltoBlood clots, AFib62%
JanuviaDiabetes79%
FarxigaDiabetes, kidney disease68%
EntrestoHeart failure53%
EnbrelRheumatoid arthritis67%
ImbruvicaBlood cancer38%
Fiasp/NovoLogDiabetes (insulin)76%
StelaraPsoriasis, Crohn's66%
How to Get the Lower Price
  • Your copay depends on your specific Part D plan: The negotiated price reduces what your plan pays; your copay is set by your plan's formulary tier. Plans must pass the savings through, but the amount varies.
  • Check your plan's updated formulary: Log in to your Part D plan's website or call the number on your card and ask specifically about your drug's cost-sharing in 2026.
  • If you're on Original Medicare: The negotiated prices apply when you fill the prescription at a pharmacy in-network with your Part D plan.
  • Extra Help program: Low-income Medicare beneficiaries may have $0 or $1–$3 copays even before negotiation. Apply at ssa.gov.
The Policy Debate
For negotiation
  • Medicare is the largest drug buyer in the world — it should use that leverage the way the VA and every other large buyer does.
  • Americans pay 2–4x what patients in other developed countries pay for identical drugs; negotiation closes part of that gap.
  • Lower prices reduce Medicare spending and extend the life of the Medicare trust fund.
Industry concerns
  • Lower prices reduce the return on R&D investment, which may reduce incentives to develop new drugs — particularly for rare diseases with small patient populations.
  • The 10 drugs selected for the first negotiation cycle are high-revenue blockbusters, but future rounds could extend to drugs with smaller margins and more fragile development economics.
What to Watch
  • Round 2 (2027): CMS will negotiate prices on 15 additional drugs. The list will be announced in 2026.
  • Legal challenges: Several pharmaceutical companies sued to block negotiation; courts have largely ruled in CMS's favor, but litigation continues.
  • Congressional action: Proposals to roll back negotiation authority are circulating in the 2026 Congress. Track at congress.gov.