117 S3339 IS: Capping Prescription Costs Act of 2021 U.S. Senate 2021-12-08 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

II117th CONGRESS1st SessionS. 3339IN THE SENATE OF THE UNITED STATESDecember 8, 2021Mr. Warnock (for himself, Ms. Klobuchar, Mr. Menendez, Ms. Baldwin, Mr. Reed, Mrs. Murray, Ms. Smith, Mr. Heinrich, Mr. Blumenthal, Ms. Hirono, and Mr. Van Hollen) introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and PensionsA BILLTo limit cost sharing for prescription drugs, and for other purposes.

1.

Short title

This Act may be cited as the Capping Prescription Costs Act of 2021.

2.

Cap on prescription drug cost-sharing

(a)

Qualified health plans

Section 1302(c) of the Patient Protection and Affordable Care Act (42 U.S.C. 18022(c)) is amended— (1)in paragraph (3)(A)(i), by inserting , including cost-sharing with respect to prescription drugs covered by the plan after charges; and (2)by adding at the end the following:(5)

Prescription drug cost-sharing

(A)

2023

For plan years beginning in 2023, the cost-sharing incurred under a health plan with respect to prescription drugs covered by the plan shall not exceed $250 per month for each enrolled individual, or $500 for each family.(B)

2024 and later

(i)

In general

In the case of any plan year beginning in a calendar year after 2023, the limitation under this paragraph shall be equal to the applicable dollar amount under subparagraph (A) for plan years beginning in 2023, increased by an amount equal to the product of that amount and the medical care component of the consumer price index for all urban consumers (as published by the Bureau of Labor Statistics) for that year.(ii)

Adjustment to amount

If the amount of any increase under clause (i) is not a multiple of $5, such increase shall be rounded to the next lowest multiple of $5..(b)

Group health plans

Section 2707(b) of the Public Health Service Act (42 U.S.C. 300gg–6(b)) is amended—(1)by striking annual; and(2)by striking paragraph (1) of section 1302(c) and inserting paragraphs (1) and (5) of section 1302(c) of the Patient Protection and Affordable Care Act.(c)

Effective date

The amendments made by subsections (a) and (b) shall take effect with respect to plans beginning after December 31, 2022.