Senator Reverend Raphael Warnock is working to reignite the effort to lower prescription costs for millions of Americans. At a meeting of the Special Committee on Aging, Warnock and Senator Bob Casey, a Democrat from Pennsylvania, introduced the Capping Prescription Costs Act. The legislation coincides with Warnock’s Bridge to Medicaid Act, which would provide a temporary health care option for people in the coverage gap.
“A report from the Georgia Health Initiative, in March 2024, found that closing the coverage gap would create 51,264 jobs statewide in the first three years of full expansion,” according to Warnock. “That’s just in the state of Georgia.”
The bill would place annual caps on out-of-pocket costs for prescription drugs, $2,000 for individuals and $4,000 for families. It would apply to all of the 173 million Americans who have private health insurance.
“Ten states have not extended access to affordable Medicaid coverage, for more than three million Americans, in my own state of Georgia, more than 600,000 Georgians.”
Over 60 percent of American adults take at least one prescription drug. Twenty-five percent take four or more.