[Congressional Record Volume 172, Number 51 (Friday, March 20, 2026)]
[Senate]
[Pages S1452-S1453]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 4733. Mr. WARNOCK submitted an amendment intended to be proposed 
by him to the bill S. 1383, to establish the Veterans Advisory 
Committee on Equal Access, and for other purposes; which was ordered to 
lie on the table; as follows:

        Strike all after the enacting clause and insert the 
     following:

     SECTION 1. SHORT TITLE.

       This Act may be cited as the ``Capping Prescription Costs 
     Act of 2026''.

     SEC. 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) 2027.--For plan years beginning in 2027, the cost-
     sharing incurred under a health plan with respect to 
     prescription drugs covered by the plan shall not exceed 
     $2,000 per year for each enrolled individual, or $4,000 per 
     year for each family.
       ``(B) 2028 and later.--
       ``(i) In general.--In the case of any plan year beginning 
     in a calendar year after 2027, the limitation under this 
     paragraph shall be equal to the applicable dollar amount 
     under subparagraph (A) for plan years beginning in 2027, 
     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.--
       (1) Public health service act.--Part D of title XXVII of 
     the Public Health Service Act (42 U.S.C. 300gg-111 et seq.) 
     is amended by inserting after section 2799A-5 (42 U.S.C. 
     300gg-115) the following:

     ``SEC. 2799A-6. CAP ON PRESCRIPTION DRUG COST-SHARING FOR 
                   GROUP HEALTH PLANS.

       ``A group health plan and health insurance issuer offering 
     group health insurance coverage shall ensure that any cost-
     sharing imposed under the plan or coverage with respect to 
     prescription drugs covered by the plan or coverage does not 
     exceed the limitations provided for under paragraph (5) of 
     section 1302(c) of the Patient Protection and Affordable Care 
     Act.''.
       (2) Employee retirement income security act.--
       (A) In general.--Subpart B of part 7 of subtitle B of title 
     I of the Employee Retirement Income Security Act (29 U.S.C. 
     1185 et seq.) is amended by inserting after section 720 (29 
     U.S.C. 1185i) the following:

     ``SEC. 721. CAP ON PRESCRIPTION DRUG COST-SHARING.

       ``A group health plan and health insurance issuer offering 
     group health insurance coverage shall ensure that any cost-
     sharing imposed under the plan or coverage with respect to 
     prescription drugs covered by the plan or coverage does not 
     exceed the limitations provided for under paragraph (5) of 
     section 1302(c) of the Patient Protection and Affordable Care 
     Act.''.
       (B) Clerical amendment.--The table of contents in section 1 
     of the Employee Retirement Income Security Act of 1974 (29 
     U.S.C. 1001 note) is amended by inserting after the item 
     relating to section 720 the following:

``Sec. 721. Cap on prescription drug cost-sharing''.
       (3) Internal revenue code of 1986.--
       (A) In general.--Subchapter B of chapter 100 of the 
     Internal Revenue Code of 1986 is amended by inserting after 
     section 9820 the following:

     ``SEC. 9821. CAP ON PRESCRIPTION DRUG COST-SHARING.

       ``A group health plan shall ensure that any cost-sharing 
     imposed under the plan with respect to prescription drugs 
     covered by the plan does not exceed the limitations provided 
     for under paragraph (5) of section 1302(c) of the Patient 
     Protection and Affordable Care Act.''.
       (B) Clerical amendment.--The table of sections for 
     subchapter B of chapter 100 of

[[Page S1453]]

     the Internal Revenue Code of 1986 is amended by inserting 
     after the item relating to section 9820 the following:

``Sec. 9821. Cap on prescription drug cost-sharing''.
       (c) Effective Date.--The amendments made by subsections (a) 
     and (b) shall take effect with respect to plan years 
     beginning on or after January 1, 2027.
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