Senator Reverend Raphael Warnock has introduced legislation aimed at limiting annual out-of-pocket drug costs. The Capping Prescription Costs Act would cap prescription drug costs for individuals at $2,000 per year and $4,000 for families. Over 60 percent of American adults take at least one prescription drug, with 25 percent of adults taking four or more. Senator Warnock says
“Americans often pay more for the same prescription drugs than people do in other countries,” according to Warnock. “Retail level prices of prescription drugs in the United States are generally two to four times higher.”
The measure would apply to all of 173 million Americans who have private health insurance.
The bill builds on the Senator’s provision in the Inflation Reduction Act, which limits drug costs for Medicare beneficiaries.
