A bill to amend title XVIII of the Social Security Act to require that coinsurance for drugs under Medicare part D be based on the drug's net price and not the drug's list price.

Bill 118 s 4229, also known as the "Medicare Part D Price Transparency Act," aims to make changes to the way coinsurance for drugs under Medicare Part D is calculated. Currently, coinsurance for drugs is based on the drug's list price, which can often be significantly higher than the actual net price of the drug.

This bill proposes that coinsurance for drugs under Medicare Part D should be based on the drug's net price, rather than the list price. This means that beneficiaries would only be responsible for paying a percentage of the actual cost of the drug, rather than a percentage of the inflated list price.

By basing coinsurance on the net price of drugs, this bill seeks to increase transparency and ensure that Medicare beneficiaries are not overpaying for their medications. This change could potentially save beneficiaries money and make prescription drugs more affordable for those enrolled in Medicare Part D. Overall, the Medicare Part D Price Transparency Act aims to address the issue of high drug prices and provide relief for Medicare beneficiaries who rely on prescription medications to manage their health conditions.