Capping Prescription Costs Act of 2023

Bill: 118-hr-6347
Sponsor: full_name: Rep. Manning, Kathy E. [D-NC-6]
Introduced: 2023-11-09
Policy area: Health
Subjects: Health care costs and insurance

Prescription drugs
Latest action: action_date: 2023-11-10
text: Referred to the Subcommittee on Health.

Summaries:
action_date: 2023-11-09
action_desc: Introduced in House
text: <p><b>Capping Prescription Costs Act of 20</b><strong>2</strong><b>3</b></p> <p>This bill caps the monthly cost-sharing amount permitted for prescription drugs under qualified health plans and group health plans.</p> </p>

tv_txt: I 118th CONGRESS 1st Session H. R. 6347 IN THE HOUSE OF REPRESENTATIVES November 9, 2023 Ms. Manning introduced the following bill; which was referred to the Committee on Energy and Commerce A BILL To 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 2023 . 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) 2025 For plan years beginning in 2025, 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) 2026 and later (i) In general In the case of any plan year beginning in a calendar year after 2025, the limitation under this paragraph shall be equal to the applicable dollar amount under subparagraph (A) for plan years beginning in 2025, 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, 2024.