S 2164
117th Congress
Senate
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Lower Costs, More Cures Act of 2021
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 22, 2021
Read twice and referred to the Committee on Finance.
Jun 22, 2021
Introduced in Senate
Plain-English summary
Lower Costs, More Cures Act of 2021
This bill establishes and modifies several programs and requirements to address prescription drug prices, particularly in relation to Medicare and Medicaid.
Among other changes, the bill
- requires the Centers for Medicare & Medicaid Services to publish certain information, as reported by pharmacy benefit managers (PBMs), relating to generic dispensing rates, drug discounts and rebates, and payments between PBMs, health plans, and pharmacies;
- caps annual out-of-pocket spending under the Medicare prescription drug benefit;
- allows prescription drug plan sponsors under the Medicare prescription drug benefit to offer additional plans in a region;
- establishes requirements under the Medicaid Drug Rebate Program for certain gene therapies for which prices are indexed to achieved outcomes; and
- establishes the position of Chief Pharmaceutical Negotiator in the Office of the U.S. Trade Representative.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1