Shea-Porter Co-Introduces Bill to Lower Prescription Drug Costs and Cap Out-of-Pocket Copays
WASHINGTON, DC— Today, Congresswoman Carol Shea-Porter (NH-01) joined Senator Elizabeth Warren (D-MA) and Congresswoman Jacky Rosen (D-NV) in introducing legislation to lower prescription drug costs. The Capping Prescription Costs Act of 2018 would place a monthly limit on what consumers pay in out-of-pocket drug costs.
“Prescription drug costs are skyrocketing,” said Shea-Porter. “Families are hurting because they can’t afford the medications they need, but this Republican Congress and the Trump administration have done next to nothing to address rising drug costs. Instead, they tried to take health care away from millions and then gave billion-dollar tax breaks to hugely profitable pharmaceutical companies. The Trump administration and Republican Congress should focus on common-sense reforms like the Capping Prescription Costs Act to meaningfully reduce the cost of prescription drugs, instead of cozying up to the pharmaceutical companies and sabotaging Americans’ health care.”
Under the bill, the cost would be capped at $250 for individuals and $500 for families per month. These caps would apply to individuals and families covered by ACA exchange plans or any group health plan, including employer-sponsored plans. Individuals with life-threatening or chronic conditions that require high-cost specialty drugs – conditions such as multiple sclerosis, cancer, hepatitis or HIV/AIDS – may face thousands of dollars a month in out-of-pocket costs. These caps would ensure that families with high prescription drug costs are protected and can access necessary medications.