S. 2770: Share the Savings with Seniors Act

This bill limits cost-sharing for chronic care drugs under the Medicare prescription drug benefit. Chronic care drugs include blood glucose regulators other than insulin, anticoagulants, and other categories of drugs as specified in the bill.

Specifically, for costs below the annual deductible, the bill caps cost-sharing for chronic care drugs at the net price of the drug (i.e., the negotiated price net of all manufacturer price concessions); for costs above the annual deductible and below the annual out-of-pocket threshold, cost-sharing must be based on a percentage of the drug's net price (if cost-sharing for that drug is tied to the price or cost of the drug).

Written by the Congressional Research Service, Library of Congress.