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 actual acquisition cost and not the drug's wholesale acquisition cost.

Bill 119 hr 1244, also known as the Medicare Part D Cost Sharing Improvement Act of 2021, 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 wholesale acquisition cost, which can often be higher than the actual acquisition cost of the drug.

This bill seeks to require that coinsurance for drugs under Medicare Part D be based on the drug's actual acquisition cost, rather than the wholesale acquisition cost. This change is intended to help lower out-of-pocket costs for Medicare beneficiaries who rely on prescription drugs to manage their health conditions.

By basing coinsurance on the actual acquisition cost of the drug, this bill aims to 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 who rely on Medicare Part D for their medication coverage. Overall, the Medicare Part D Cost Sharing Improvement Act of 2021 seeks to improve the affordability of prescription drugs for Medicare beneficiaries by ensuring that coinsurance is based on the actual acquisition cost of the drug, rather than the potentially inflated wholesale acquisition cost.