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Territories Medicare Prescription Drug Assistance Equality Act of 2023
12/20/2024, 9:05 AM
Summary of Bill HR 4028
The bill seeks to rectify this by providing equal access to Medicare prescription drug assistance for residents of US territories. This would ensure that individuals in these territories have the same opportunities for affordable prescription medications as those living in the states.
The legislation has garnered bipartisan support in Congress, with lawmakers recognizing the importance of ensuring equitable access to healthcare for all Americans, regardless of where they reside. If passed, the Territories Medicare Prescription Drug Assistance Equality Act of 2023 would represent a significant step towards addressing healthcare disparities in US territories and promoting health equity for all residents of the United States.
Congressional Summary of HR 4028
Territories Medicare Prescription Drug Assistance Equality Act of 2023
This bill makes certain income-based subsidies under the Medicare prescription drug benefit available to individuals who reside in Puerto Rico or another U.S. territory and are otherwise eligible.
Current law makes such individuals ineligible for premium and cost-sharing subsidies, but establishes a process for U.S. territories to apply for financial assistance with respect to the provision of Medicare prescription drugs. The bill retains a process for U.S. territories to apply for such assistance, but alters the formula by which the amount of assistance is calculated. Specifically, the bill phases in modifications to the formula that more closely align how assistance is calculated for U.S. territories with how it is calculated for the 50 states and the District of Columbia.
