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

Lower drug costs for Medicare seniors

If enacted, this bill would require standalone Medicare Part D plans (PDPs) to put certain cheaper generics and biosimilars on lower-cost formulary tiers starting for plan years beginning on or after January 1, 2027. Each covered generic whose wholesale acquisition cost (WAC) is less than its reference drug would be placed in a preferred position. At least two covered biosimilars with WACs below their reference biological product would be placed in preferred positions. PDPs would have to make preferred position mean a more favorable tier and lower patient out-of-pocket costs, and they would not be allowed to impose access limits (like prior authorization or step therapy) that are more restrictive than limits on the reference product. The bill would also add clear definitions for "covered generic," "covered biosimilar," "reference drug/product," and "wholesale acquisition cost" to guide these rules.