Bill > S4671

This bill, known as the Capping Prescription Costs Act of 2024, aims to limit the cost-sharing for prescription drugs covered by qualified health plans and group health plans. The key provisions are: 1. For plan years beginning in 2026, the cost-sharing for prescription drugs covered by a health plan cannot exceed $2,000 per year for each enrolled individual or $4,000 per year for each family. 2. For plan years beginning in 2027 and later, the cost-sharing limit will be adjusted annually based on the medical care component of the consumer price index for all urban consumers. 3. The amendments made by this bill will take effect for plans beginning after December 31, 2025. The purpose of this bill is to make prescription drugs more affordable for individuals and families by capping the amount they have to pay out-of-pocket for covered prescription medications.

Health and Social Services

https://www.congress.gov/bill/118th-congress/senate-bill/4671/all-info