CMS announced a proposed rule on June 12, 2026 that would establish a more permanent regulatory framework for the Medicare Drug Price Negotiation Program. The proposal focuses on negotiation and renegotiation processes beginning with prices that would become effective in 2029.
What is already happening now?
CMS says negotiated Maximum Fair Prices for the first 10 selected high-expenditure drugs took effect January 1, 2026. CMS has completed negotiations for 25 drugs during the program’s first two years, with different groups of negotiated prices taking effect in different years.
What CMS is proposing for future negotiation cycles
The proposal would codify a long-term process for selecting, negotiating and in some cases renegotiating high-cost single-source drugs. CMS says up to 20 additional eligible Part D and/or Part B drugs could be selected in the fourth negotiation cycle and subsequent cycles, consistent with statutory requirements.
The proposal also addresses how selected drugs with a negotiated price would be handled on Part D formularies and how negotiated prices are defined for payments to dispensing entities.
What this means when you compare a Part D plan
National drug-pricing policy is only one part of what you pay. Your personal prescription costs can still depend on your specific drug list, formulary placement, pharmacy, utilization rules and plan design. That is why a yearly Part D review should focus on your medications rather than on headlines alone.
As CMS finalizes future rules and plan sponsors publish their annual benefits, beneficiaries should compare the actual plan information available for their ZIP code and prescriptions.