Key takeaways
- The Inflation Reduction Act (2022) is coming into effect in 2026, meaning that the U.S. government has been able to negotiate with drugmakers to reduce drug costs.
- Ten medications, including diabetes drugs like Jardiance, will decrease in price in 2026. With patent expiries and new generics being made, other drugs may also become cheaper.
- If you’d like to save on your medications, there are options available. Try discount cards or manufacturer savings programs. You can also get to know your insurance and what drugs are covered by your plan.
Overview
Medications can account for a significant share of healthcare costs, and each year, prices seem to be consistently rising. However, drug prices aren’t static — they can fall as well as rise.
The United States government has negotiated with several drugmakers to lower the prices of certain medications in 2026. These negotiations may also extend to other medications in the future. Let’s take a look at the 10 drugs that will become cheaper in 2026.
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What drugs are becoming more affordable?
In 2022, the U.S. government passed a law called the Inflation Reduction Act (IRA). This law was designed to lower overall costs for Americans, including healthcare costs. So how does this affect medication prices?
The IRA gives Medicare, which is run by the government, the power to negotiate medication prices directly with drug manufacturers. Medicare selected medications from a list of qualifying drugs. The criteria for included drugs were:
- At least seven years, or at least 11 years for biologic drugs, must have elapsed between FDA approval and the selected drug publication date.
- There must be no generic or biosimilar alternatives available.
The ten drugs selected for 2026 are:
These drugs may now be significantly cheaper for adults enrolled in Medicare Part D. For example, Jardiance, a diabetes medication, is being reduced by more than 40%. The law also caps the cost of a month’s supply of insulin at $35 for people enrolled in Medicare.
If you need help covering the cost of medications, the free Optum Perks Discount Card could help you save up to 80% on prescription drugs. Plus, you can now get them delivered to your home in as little as 3 days. Search for your medication here.
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Get free cardWill any other medications become cheaper?
Government negotiations are not the only way that medications can decrease in price.
When a drug is first approved, the manufacturer holds patents that grant them a period of exclusivity to sell that medication without competition from generics. Drug prices may be higher to help manufacturers recover some of the costs that went into researching and developing the drug.
When these patents expire, typically after many years, other manufacturers are allowed to sell generic versions of a branded drug. These are typically cheaper because the drugmakers don’t need to recover the same development and marketing costs.
For example, key patents for some weight loss medications, such as Ozempic and Wegovy, are set to expire in countries like China and Canada, meaning generic alternatives can enter these markets, potentially driving prices down. The effect on prices in these markets may have a knock-on effect in the U.S., leading to lower overall prices.
These medications are also expected to become cheaper in the U.S. in 2026 because the government has struck agreements with the manufacturers of these medications to make them significantly cheaper for consumers when purchased through the TrumpRx program.
How to save on your drug costs
Americans currently pay the highest prices in the world for prescription medications. But there are several ways you can keep drug costs down, including:
- try generics over brand-name drugs
- look into manufacturer savings programs
- get to know your insurance formulary
- look into discount cards and coupons
The Optum Perks Discount Card is a free card you can download or print and take to a pharmacy to get your prescription at the website-listed price. It may be able to save you up to 80% on prescription drug costs. The Optum Perks site also offers individual coupons for many medications.
You can also now get your medication delivered to your home in as little as 3 days. Note that Optum Perks discounts can’t be used alongside insurance.
Summary
While medications can have high costs that increase with time, it’s also possible for drug prices to go down.
Due to a law passed in 2022, the Inflation Reduction Act, Medicare can now negotiate lower prices with drug manufacturers for certain medications. Ten medications, including some diabetes drugs, will become more affordable in 2026, with more expected to decrease in price in the future with further negotiations.
If your drug costs are too high, there are many ways you can save on your medications. Reach out to a doctor or pharmacist for advice.
Download the free Optum Perks Discount Card to save up to 80% on many prescription medications. Plus, you can now get them delivered to your home in as little as 3 days. Search for your medication here.
Disclaimer: While Optum Perks strives for factual, comprehensive, and current information, this article is not a substitute for a licensed healthcare professional’s expertise. Always consult a doctor before taking or discontinuing any medication. Drug information is subject to change and may not cover all uses, directions, precautions, warnings, interactions, reactions, or adverse effects. The lack of a warning does not guarantee a drug’s safety, effectiveness, or appropriateness for all patients or specific uses.