Us Congress 2023-2024 Regular Session

Us Congress Senate Bill SB2456

Introduced
7/20/23  

Caption

Protecting Seniors from High Drug Costs Act

Impact

If enacted, SB2456 would come into effect for plan years starting January 1, 2026. This change is expected to have a positive impact on low-income individuals specifically, as it adjusts copayment amounts to ensure they align with the newly defined limits. The bill's proponents argue that it will not only simplify financial planning for seniors but will also incentivize pharmaceutical companies to provide discounts, thereby driving the cost of medications down.

Summary

SB2456, also known as the Protecting Seniors from High Drug Costs Act, proposes significant amendments to title XVIII of the Social Security Act. The primary objective of this legislation is to limit out-of-pocket cost-sharing for beneficiaries under Medicare Part D to the net price of covered prescription drugs. The bill is designed to alleviate the financial burden on seniors who face skyrocketing drug costs, ensuring they do not pay more than the negotiated price of their medications, reduced by any manufacturer discounts or price concessions.

Contention

The bill could spark debates concerning the financial implications for Medicare and the pharmaceutical industry. Supporters highlight the necessity of this bill in addressing the unjust burden on seniors, while opponents may raise concerns about the potential for increased costs to the Medicare system and pushback from drug manufacturers unhappy with renewed pricing pressures. The legislation aims to strike a balance between providing essential care for seniors and managing the fiscal responsibilities of state-funded healthcare programs.

Companion Bills

No companion bills found.

Previously Filed As

US SB2474

Share the Savings with Seniors Act

US HB4895

Lowering Drug Costs for American Families Act

US HB1244

Reducing Drug Prices for Seniors Act

US SB2129

Ensuring Access to Lower-Cost Medicines for Seniors Act

US HB5376

Share the Savings with Seniors Act

US SB3430

Better Mental Health Care, Lower-Cost Drugs, and Extenders Act of 2023

US SB4229

Reducing Drug Prices for Seniors Act.

US SB2683

Accelerating Movement of Essential Rx Items to Create Access to National Drug Resources for US Government Services Act AMERICAN DRUGS Act

US HB4881

To amend title XVIII of the Social Security Act to limit cost sharing for drugs under the Medicare program.

US HB8725

Increasing Medication Access for Seniors Act of 2024

Similar Bills

No similar bills found.