1. Short title This Act may be cited as the Ensuring Access to Lower-Cost Medicines for Seniors Act of 2023 . 2. Requirements for PDP sponsors of prescription drug plans under part D of the Medicare program that use formularies Section 1860D–4(b)(3) of the Social Security Act ( 42 U.S.C. 1395w–104(b)(3) ) is amended by adding at the end the following new subparagraph: (J) Required inclusion of certain generic drugs and biosimilar biological products (i) In general With respect to a plan year beginning on or after January 1, 2024, the formulary shall include in a preferred position relative to the reference drug— (I) each covered generic drug for which the wholesale acquisition cost is less than the wholesale acquisition cost of the reference drug of such covered generic drug