releases: https://horsford.house.gov/media/press-releases/landmark-horsford-legislation-to-cap-senior-drug-costs-included-in-build-back-better-drug-pricing-deal
Data license: MIT · Data source: dwillis/congress-press
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| url | title | date | year | month | party | chamber | state | member_name | bioguide_id | domain | scraper | source | date_source | text | has_text | collected_at | updated_at |
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| https://horsford.house.gov/media/press-releases/landmark-horsford-legislation-to-cap-senior-drug-costs-included-in-build-back-better-drug-pricing-deal | Landmark Horsford Legislation to Cap Senior Drug Costs Included in Build Back Better Drug Pricing Deal | 2021-11-02 | 2021 | 2021-11 | Democrat | House | NV | Steven Horsford | H001066 | horsford.house.gov | horsford | https://horsford.house.gov/media/press-releases | scraper | November 2, 2021 WASHINGTON, D.C. – Today, Congressman Steven Horsford (D-NV-04) released the following statement after House and Senate Democrats struck a deal to include his bill – the Capping Drug Costs for Seniors Act – in a package of legislation that would lower drug costs through the Build Back Better Act. "As Congress negotiates the final text of the Build Back Better Act, I have made clear to House leadership that we must deliver meaningful drug pricing reform for seniors and people in need," said Congressman Steven Horsford. "I am thrilled that we reached today's landmark agreement to lower drug costs. This agreement includes my bill – the Capping Drug Costs for Seniors Act – which would create a $2,000 out-of-pocket limit on prescription drugs under Medicare Part D. Today, Democrats have sent a clear message that people matter more than pharmaceutical profits." On Sunday, Congressman Horsford sent a letter urging House leadership to include critical provisions on prescription drug pricing in the final legislative text of the Build Back Better Act. The text of the letter can be found here. The agreement reached today: Caps out-of-pocket costs for all seniors to $2,000 per year and includes a "smoothing" mechanism that allows seniors to pay their out-of-pocket expenses throughout the calendar year via monthly installments over the course of a calendar year instead of all at once. Establishes a $35 out-of-pocket maximum for insulin. Penalizes drug manufacturers that raise the price of a drug beyond the inflation rate for drugs in Medicare Parts B and D beginning Oct. 1, 2021. This inflation cap also applies to private insurance markets. Allows negotiation of drug costs in Medicare Parts B and D for some drugs older than 9 years and others older than 12 years. Increases transparency by establishing reporting requirements for Pharmacy Benefits Managers (PBMs) – the corporate middlemen between drug manufacturers and payors – so private plans know the true cost of drugs and price concessions can be passed on to consumers. Promotes lower-cost options, such as generics, by incentivizing and bolstering competition in the marketplace. | 1 | 2026-03-30T01:40:41Z | 2026-04-06T20:30:49Z |