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S. 2327: Seniors Prescription Drug Relief Act

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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Jul 13, 2021.

Seniors Prescription Drug Relief Act

This bill establishes and alters several programs and requirements relating to the prices of prescription drugs under Medicare.

For example, the bill caps annual out-of-pocket spending under the Medicare prescription drug benefit. It also establishes (1) a program under which drug manufacturers must, subject to civil penalties, provide discounts for covered drugs for beneficiaries who have incurred costs above the annual deductible; and (2) a process through which certain beneficiaries may have their monthly out-of-pocket costs capped and paid in monthly installments.