The negotiated prices are a result of a program passed by Congress in 2022 as part of the Inflation Reduction Act (IRA). The measure lowers prescription drug costs for seniors by empowering Medicare to negotiate the cost of prescription drugs. The negotiated prices include:

Smart Medigap Plans, a Texas-based Medicare insurance agency, has expanded its service offerings to address the increasing demand for personalized Medicare guidance as approximately 10,000 Americans become eligible for Medicare daily nationwide.