The White House on Thursday announced the first 10 drugs that will be cheaper for patients with Medicare Part D. The drugs included treat common conditions such as diabetes, blood clots and more.

The prices won’t take effect until 2026, but this is the first step in the Biden-Harris administration’s initiative to lower out-of-pocket costs for Medicare beneficiaries through the Inflation Reduction Act. Negotiations between pharmaceutical companies and the U.S. Department of Health and Human Services have reduced list prices for the following drugs by 38 to 79 percent, according to the White House:

• Eliquis (to treat or prevent blood clots)
• Jardiance (Diabetes, heart failure and chronic kidney disease)
• Xarelto (Blood clots and coronary or peripheral arterial disease)
• Januvia (Diabetes)
• Farxiga (diabetes, heart failure, chronic kidney disease)
• Entry (heart failure)
• Enbrel (rheumatoid arthritis, psoriasis and psoriatic arthritis)
• Imbruvica (blood cancer)
• Stelara (Psoriasis, psoriatic arthritis, Crohn’s disease and ulcerative colitis)
• Fiasp, Fiasp FlexTouch, Fiasp PenFill, NovoLog, NovoLog FlexPen and NovoLog PenFill (Diabetes)

According to the Kaiser Family Foundation, more than 50 million people receiving Medicare were enrolled in Medicare Part D plans in 2023. About 65 million are covered by Medicare. The drugs selected for price negotiations are among those with the “highest total spending” for Medicare Part D, according to the White House.

When the new prices take effect in 2026, the government estimates that people with Medicare Part D will save about $1.5 billion in total out-of-pocket costs.

Other ways to save money on medicines and drugs

The recently announced lower prices for ten common drugs are important because they are the result of a negotiation at the source: between drug manufacturers and prescription drug pricing for seniors and the disabled.

However, as drug and pharmaceutical prices have continued to rise in recent years, some companies and services have emerged that can help people save money on common or expensive medications. Not only can you work with your insurer and doctor to find ways to save with Medicare or private insurance, but you can also look for deals on some of the following websites or with some companies to escape the astronomical drug prices:

Costs plus Medicines: Mark Cuban’s Cost Plus Drug Company is an online marketplace that offers medications at lower prices than pharmacies. You can browse the list of medications offered.

GoodRX, SingleCare and other sites: Websites like GoodRX and SingleCare are designed to help you compare prices and find the best discounts on your prescription drugs.

Amazon RxPass: If you’re an Amazon Prime user, you can upgrade your membership for $5 more per month and use RxPass, a subscription service that gives members access to some generic drugs at no additional cost. Amazon recently expanded availability to Medicare recipients, so this may not be worth it for you if you’re not already enrolled in Amazon Prime (it costs $15 per month before you add RxPass), but it’s something you should consider if you already have it. Check out the List of medications included in RxPass subscription here to decide if it’s worth it to you.

If you Amazon PharmacyYou can also use the automatic coupon function, which automatically applies discounts when paying.

Your local pharmacist: Because they deal with insurance and prescriptions all day, pharmacists can provide excellent advice on what discount to use or how to reorder prescriptions. You can also look for discount tools or programs at retail chains like CVS or Walmart.