The Biden-Harris Administration has announced significant progress in reducing prescription drug costs for millions of Americans. The administration has finalized agreements with pharmaceutical companies to lower prices on the ten most expensive prescription medications covered by Medicare. These negotiated prices will take effect in 2026, saving Medicare beneficiaries $1.5 billion in out-of-pocket costs. The new prices will cut the list price of these drugs by between 38 and 79 percent, with diabetes treatments experiencing the most significant reductions. This initiative is part of the Inflation Reduction Act, which allows Medicare to negotiate prices for the first time. The program aims to alleviate financial burdens for seniors and people with disabilities, who often face high out-of-pocket costs for essential medications. The administration has also implemented other provisions, such as capping out-of-pocket costs for insulin at $35 per month and expanding eligibility for the Extra Help program. These measures are expected to benefit nearly 9 million Americans, providing much-needed relief from high prescription drug costs.