Ensuring Access to Lower-Cost Medicines for Seniors Act of 2026.

This bill requires Medicare Part D prescription drug plans to include certain lower-cost generic drugs and biosimilar biological products in preferred positions on their formularies starting in 2027. It mandates that these lower-cost alternatives be placed on more favorable tiers with reduced out-of-pocket costs compared to their brand-name counterparts. Additionally, the legislation prohibits plans from imposing stricter access restrictions, such as prior authorization or step therapy, on these lower-cost options than those applied to the original brand-name drugs. The measure directly affects Medicare beneficiaries enrolled in Part D plans and the insurance sponsors who manage those formularies.