Lower Drug Costs Today Act

Bill: 118-hr-5924
Sponsor: full_name: Rep. Magaziner, Seth [D-RI-2]
Introduced: 2023-10-11
Policy area: Health
Subjects: Health care costs and insurance

Medicare

Prescription drugs
Latest action: action_date: 2024-12-17
text: Referred to the Subcommittee on Health.

Summaries:

tv_txt: I 118th CONGRESS 1st Session H. R. 5924 IN THE HOUSE OF REPRESENTATIVES October 11, 2023 Mr. Magaziner introduced the following bill October 25, 2023 Referred to the Committee on Energy and Commerce , and in addition to the Committee on Ways and Means , for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned A BILL To amend title XVIII of the Social Security Act with respect to the timing of changes to the annual out-of-pocket threshold for the Medicare prescription drug benefit, and to amend title XI of such Act with respect to the timing of the Medicare drug price negotiation program.

1. Short title This Act may be cited as the Lower Drug Costs Today Act . 2. Timing of changes to annual out-of-pocket threshold for Medicare prescription drug benefit (a) In general Section 1860D–2(b)(4)(B)(i) of the Social Security Act ( 42 U.S.C. 1395w–102(b)(4)(B)(i) ) is amended— (1) in subclause (VI), by striking 2024 and inserting 2023 ; and (2) in subclause (VII), by striking 2025 and inserting 2024 . (b) Conforming amendments (1) Section 1860D–2 of the Social Security Act ( 42 U.S.C. 1395w–102 ) is amended— (A) in subsection (a)(2)(A)(i)(I), by striking 2025 and inserting 2024 ; (B) in subsection (b)— (i) in paragraph (2)— (I) in subparagraph (A), by striking 2025 each place it appears and inserting 2024 ; (II) in subparagraph (C)— (aa) in clause (i), by striking 2025 and inserting 2024 ; and (bb) in clause (ii)(III), by striking 2024 and inserting 2023 ; (III) in subparagraph (D)— (aa) in clause (i)— (AA) in the matter preceding subclause (I), by striking 2025 and inserting 2024 ; and (BB) in subclause (I)(bb), by striking 2024 and inserting 2023 ; and (bb) in clause (ii)(V), by striking 2024 and inserting 2023 ; and (IV) in subparagraph (E)(i), by striking 2025 and inserting 2024 ; (ii) in paragraph (3)(A)— (I) in the matter preceding clause (i), by striking 2025 and inserting 2024 ; and (II) in clause (ii), by striking 2024 and inserting 2023 ; and (iii) in paragraph (4)— (I) in subparagraph (C)— (aa) in clause (i), by striking 2025 and inserting 2024 ; and (bb) in clause (iii)(II), by striking 2025 and inserting 2024 ; and (II) in subparagraph (E), by striking 2024 and inserting 2023 ; (C) in subsection (c)(1)(C)— (i) in the matter preceding clause (i), by striking 2025 each place it appears and inserting 2024 ; and (ii) in clause (i), by striking 2025 each place it appears and inserting 2024 ; and (D) in subsection (d)(1)(A), by striking 2025 and inserting 2024 . (2) Section 1860D–4(a)(4)(B)(i) of the Social Security Act ( 42 U.S.C. 1395w–104(a)(4)(B)(i) ) is amended by striking 2025 and inserting 2024 . (3) Section 1860D–14(a)(1)(C) of the Social Security Act ( 42 U.S.C. 1395w–114(a)(1)(C) ) is amended by striking 2025 and inserting 2024 . (4) Section 1860D–15(b) of the Social Security Act ( 42 U.S.C. 1395w–115(b) ) is amended— (A) in paragraph (1)— (i) in subparagraph (A), by striking 2025 and inserting 2024 ; and (ii) in subparagraph (B), in the matter preceding clause (i), by striking 2025 and inserting 2024 ; and (B) in paragraph (3), by striking 2025 and inserting 2024 . (5) Section 1860D–22(a)(2)(A) of the Social Security Act ( 42 U.S.C. 1395w–132(a)(2)(A) ) is amended— (A) in clause (i), by striking 2025 and inserting 2024 ; and (B) in clause (ii), by striking 2025 and inserting 2024 . (6) Section 1860D–41(a)(6) of the Social Security Act ( 42 U.S.C. 1395w–151(a)(6) ) is amended by striking 2025 and inserting 2024 . 3. Timing of Medicare drug price negotiation program (a) In general Part E of title XI of the Social Security Act ( 42 U.S.C. 1320f et seq. ) is amended— (1) in section 1191— (A) in subsection (b)(1), by striking 2026 and inserting 2024 ; and (B) in subsection (d)— (i) in the subsection heading, by striking 2026 and inserting 2024 ; and (ii) in the matter preceding paragraph (1), by striking 2026 and inserting 2024 ; (2) in section 1192— (A) in subsection (a)— (i) in paragraph (1), by striking 2026 and inserting 2024 ; (ii) in paragraph (2), by striking 2027 and inserting 2025 ; (iii) in paragraph (3), by striking 2028 and inserting 2026 ; and (iv) in paragraph (4), by striking 2029 and inserting 2027 ; (B) in subsection (b)(2)— (i) in the paragraph heading, by striking 2026 and 2027 and inserting 2024 and 2025 ; (ii) by striking 2026 and inserting 2024 ; and (iii) by striking 2027 and inserting 2025 ; (C) in subsection (d)— (i) in paragraph (1), by striking 2026 or 2027 and inserting 2024 or 2025 ; (ii) in paragraph (2)(A), by striking 2026, 2027, and 2028 and inserting 2024, 2025, and 2026 ; and (iii) in paragraph (3)(A)(ii), by striking 2026, 2027, and 2028 and inserting 2024, 2025, and 2026 ; and (D) in subsection (e)(3)(B)— (i) in clause (i), by striking 2026 and inserting 2024 ; and (ii) in clause (ii), by striking 2027 and inserting 2025 ; and (3) in section 1194— (A) in subsection (c)(1)(C)— (i) in clause (i)— (I) in the clause heading, by striking 2026 and inserting 2024 ; and (II) by striking 2026 and inserting 2024 ; and (ii) in clause (ii)— (I) in the clause heading, by striking 2027 and inserting 2025 ; and (II) in the matter preceding subclause (I), by striking 2027 and inserting 2025 ; (B) in subsection (d), by striking 2029 or 2030 and inserting 2027 or 2028 ; and (C) in subsection (f)(3), by striking 2028 and inserting 2026 . (b) Conforming amendment to part D Section 1860D–4(b)(3)(I)(i) of the Social Security Act ( 42 U.S.C. 1395w–104(b)(3)(I)(i) ) is amended by striking 2026 and inserting 2024 .