S. 2617 — Reducing Drug Prices for Seniors Act.

This section requires that, for Medicare Part D plan years beginning on or after January 1, 2026, coinsurance for formulary covered Part D drugs subject to coinsurance (rather than copayment)—for costs above the annual deductible and below the annual out-of-pocket threshold—be calculated using the drug's net price (rather than list price) when the net price is lower. The net price is the negotiated price net of manufacturer price concessions (per 42 CFR 423.100), as reported in the plan sponsor's Detailed DIR Report for the previous plan year; this requirement applies to both standalone prescription drug plans and Medicare Advantage prescription drug (MA-PD) plans and excludes covered Part D drugs described in subsection (b)(8) or (9).