DES MOINES, Iowa — This week, President Joe Biden unveiled his proposal for Medicare's first-ever price negotiations for widely used prescription drugs.
The negotiation process was authorized under the Inflation Reduction Act, which Biden signed last year. The measure comes after decades of debate over whether the federal government should be allowed to haggle with pharmaceutical companies.
"We pay more for prescription drugs than any other major economy in the world," Biden said.
The 10 drugs covered under Part D selected for negotiation for initial price applicability year 2026: Eliquis, Jardiance, Xarelto, Januvia, Farxiga, Entresto, Enbrel, Imbruvica, Stelara, and NovoLog.
According to the White House data, roughly 36,000 Iowans use Eliquis, 12,000 use Jardiance, 15,000 use Xarelto, 7,000 use Januvia, 4,000 use Faxiga, 3,000 use Entresto, 11,000 use NovoLog, and fewer than 500 enrollees use Enbrel, Imbruvica, and Stelara.
"Drugs are too expensive for too many older Iowans and they often have to choose between buying their prescriptions or paying for food or paying for rent," said AARP Iowa State Director Brad Anderson.
Anderson says many Iowans also ration their drugs, hoping to stretch the supply, which is why he says these negotiations have been something the organization has advocated for years.
"If you're on a fixed income, say between $17,000 and $20,000 a year, for example, you're talking about $2,000 or $3,000 for a prescription drug," said Anderson. "And it's a significant chunk of your income that goes to a prescription drug. "
If the negotiations are successful, the White House says Americans would start seeing them roll out in January of 2026.