The out-of-pocket cost of prescription drugs covered through Medicare would be capped at $2,000 a year under legislation introduced into the U.S. Senate by Sen. Raphael Warnock, D-Ga.
More than 1.2 million senior citizens paid more than $2,000 for prescription drugs in 2019.“Our country should never allow for our seniors to have to ration or skip the medication they need because they can’t afford it.” Warnock said.
Warnock’s bill would reduce the cap on out-of-pocket costs of prescription drugs for seniors from the current $3,000. It also would require drug manufacturers to take on more of the cost burden, reducing government subsidies and saving tax dollars.
Warnock said he’s working to get the prescription drug cap for seniors through Congress as soon as possible.