Medicare Costs for Seniors Lowered in Senate Drug-Price Bill (1)

Seniors would pay a smaller portion of their drugs’ cost and be shielded from huge one-time expenses under a new version of a Senate drug-pricing bill.

The second draft of the Senate Finance Committee’s Prescription Drug Pricing Reduction Act lowers what Medicare beneficiaries are responsible for paying in the initial phase of their prescription plans from 25% to 20% after they’ve paid their deductibles.

The measure also gives seniors the option to more evenly distribute what they pay each month for their medications, which would be capped at $3,100 a year.

Part D plans and drug middlemen would also have ...