Lower Drug Costs Today Act
The Lower Drug Costs Today Act (HR 5924) accelerates key Medicare Part D prescription drug coverage changes by moving up their effective dates. It revises the Social Security Act to implement the annual out-of-pocket spending limit for drug coverage in 2024 (instead of 2025) and brings forward the start of the Medicare drug price negotiation program to 2024 (from 2026). These adjustments directly affect Medicare beneficiaries by allowing them to experience lower cost-sharing and negotiated drug prices sooner. The bill makes these changes through technical year substitutions across multiple sections of the Medicare Part D law.
Bill status
in committee
1 of 4 stages cleared
Introduction
Oct 2023
Committee Review
Floor Vote
President
Introduced Oct 11, 2023
Last action Dec 17, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
4
Key actions
0
Committee
3
Dec 17, 2024
Committee
Referred to the Subcommittee on Health.
lower
Nov 3, 2023
Committee
Referred to the Subcommittee on Health.
lower
Oct 25, 2023
Committee
Referred to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
lower
Oct 11, 2023
Introduced
Introduced in House
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Seth Magaziner
DDemocratic
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