Cutting Copays Act
4/11/2024, 6:30 PMSummary of Bill S 3951
Bill 118 s 3951, also known as the Cutting Copays Act, is a piece of legislation introduced in the US Congress. The main goal of this bill is to reduce the out-of-pocket costs that individuals have to pay for prescription drugs.The bill specifically targets copayments, which are the fixed amounts that individuals are required to pay for their medications. These copayments can add up quickly, especially for individuals who require multiple medications or have chronic conditions.
The Cutting Copays Act aims to lower these costs by capping copayments for prescription drugs at $35 per month for individuals with private insurance. This cap would apply to both brand-name and generic medications, providing relief for those who struggle to afford their necessary medications. In addition to capping copayments, the bill also includes provisions to increase transparency around drug pricing and to prevent pharmaceutical companies from engaging in anti-competitive practices that drive up costs for consumers. Overall, the Cutting Copays Act is designed to make prescription drugs more affordable for Americans and to ensure that individuals can access the medications they need without facing financial hardship.
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Current Status of Bill S 3951
Bill S 3951 is currently in the status of Bill Introduced since March 14, 2024. Bill S 3951 was introduced during Congress 118 and was introduced to the Senate on March 14, 2024. Bill S 3951's most recent activity was Read twice and referred to the Committee on Finance. as of March 14, 2024Bipartisan Support of Bill S 3951
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 3951
Primary Policy Focus
HealthAlternate Title(s) of Bill S 3951
Cutting Copays ActCutting Copays ActA bill to amend title XVIII of the Social Security Act to provide for adjustments to the Medicare part D cost-sharing reductions for low-income individuals.Comments
Most relevant
Sponsors and Cosponsors of S 3951
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