In August of 2022, the Inflation Reduction Act (IRA) was signed into law. This new law will assist in lowering health care and prescription drug costs, and has created the Medicare Drug Price Negotiation Program. The program will allow Medicare to negotiate better prescription drug prices, and Medicare has already selected the first ten drugs up for negotiation. For a list of the first round of drugs selected for negotiation, you can read our blog on the topic here. The negotiated maximum fair prices for these drugs will apply beginning in 2026.