Section 1 Short title
This Act may be cited as the “Lower Out-of-Pocket Costs for Seniors Act”.
Lower Out-of-Pocket Costs for Seniors Act
A BILL
To amend title XVIII of the Social Security Act to prevent growth rate cliff for out-of-pocket threshold under Medicare part D.
Sec. 2 Preventing growth rate cliff for out-of-pocket cost threshold under Medicare part D
Section 1860D–2(b)(4)(B)(i) of the Social Security Act (42 U.S.C. 1395w–102(b)(4)(B)(i)) is amended—
in subclause (III), by adding at the end “or”;
in subclause (IV)—
by striking “each of years 2016 through 2019” and inserting “2016 and each subsequent year”; and
by striking the semicolon at the end and inserting a period; and
by striking subclauses (V) and (VI).