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Share the Savings with Seniors Act

USA118th CongressS-2474| Senate 
| Updated: 7/25/2023
John Cornyn

John Cornyn

Republican Senator

Texas

Cosponsors (3)
Thomas Tillis (Republican)Thomas R. Carper (Democratic)Sherrod Brown (Democratic)

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Share the Savings with Seniors Act This bill limits cost-sharing for chronic care drugs under the Medicare prescription drug benefit. Chronic care drugs include blood glucose regulators other than insulin, anticoagulants, and other categories of drugs as specified in the bill. Specifically, for costs below the annual deductible, the bill caps cost-sharing for chronic care drugs at the net price of the drug (i.e., the negotiated price net of all manufacturer price concessions); for costs above the annual deductible and below the annual out-of-pocket threshold, cost-sharing must be based on a percentage of the drug's net price (if cost-sharing for that drug is tied to the price or cost of the drug).
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Timeline
Jul 25, 2023
Introduced in Senate
Jul 25, 2023
Read twice and referred to the Committee on Finance.
Dec 17, 2024

Latest Companion Bill Action

HR 118-5376
Referred to the Subcommittee on Health.
  • July 25, 2023
    Introduced in Senate


  • July 25, 2023
    Read twice and referred to the Committee on Finance.


  • December 17, 2024

    Latest Companion Bill Action

    HR 118-5376
    Referred to the Subcommittee on Health.

Health

Related Bills

  • HR 118-5376: Share the Savings with Seniors Act
Health care costs and insuranceMedicarePrescription drugs

Share the Savings with Seniors Act

USA118th CongressS-2474| Senate 
| Updated: 7/25/2023
Share the Savings with Seniors Act This bill limits cost-sharing for chronic care drugs under the Medicare prescription drug benefit. Chronic care drugs include blood glucose regulators other than insulin, anticoagulants, and other categories of drugs as specified in the bill. Specifically, for costs below the annual deductible, the bill caps cost-sharing for chronic care drugs at the net price of the drug (i.e., the negotiated price net of all manufacturer price concessions); for costs above the annual deductible and below the annual out-of-pocket threshold, cost-sharing must be based on a percentage of the drug's net price (if cost-sharing for that drug is tied to the price or cost of the drug).
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jul 25, 2023
Introduced in Senate
Jul 25, 2023
Read twice and referred to the Committee on Finance.
Dec 17, 2024

Latest Companion Bill Action

HR 118-5376
Referred to the Subcommittee on Health.
  • July 25, 2023
    Introduced in Senate


  • July 25, 2023
    Read twice and referred to the Committee on Finance.


  • December 17, 2024

    Latest Companion Bill Action

    HR 118-5376
    Referred to the Subcommittee on Health.
John Cornyn

John Cornyn

Republican Senator

Texas

Cosponsors (3)
Thomas Tillis (Republican)Thomas R. Carper (Democratic)Sherrod Brown (Democratic)

Finance Committee

Health

Related Bills

  • HR 118-5376: Share the Savings with Seniors Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Health care costs and insuranceMedicarePrescription drugs