Section 1 Short title
This Act may be cited as the “Cutting Copays Act”.
Cutting Copays Act
A BILL
To amend title XVIII of the Social Security Act to provide for adjustments to the Medicare part D cost-sharing reductions for low-income individuals.
Sec. 2 Adjustments to Medicare part D cost-sharing reductions for low-income individuals
Section 1860D–14(a) of the Social Security Act (42 U.S.C. 1395w–114(a)) is amended in paragraph (1)(D)(ii)—
by striking “that does not exceed $1 for” and all that follows through the period at the end and inserting
“(I) for plan years before plan year 2024—
“(aa) for a generic drug or a preferred drug that is a multiple source drug (as defined in section 1927(k)(7)(A)(i)), $1 or, if less, the copayment amount applicable to an individual under clause (iii); and
“(bb) for any other drug, $3 or, if less, the copayment amount applicable to an individual under clause (iii); and”
by adding at the end the following new subclauses:
“(II) for plan year 2024—
“(aa) for a generic drug, $0; and
“(bb) for any other drug, the dollar amount applied under this clause (after application of paragraph (4)(A)) for plan year 2023 for a drug described in subclause (I)(bb); and
“(III) for a subsequent year, the dollar amount applied under this clause for the previous year for the drug, increased by the annual percentage increase in the consumer price index (all items; U.S. city average) as of September of such previous year.”