,,ii  #aahth ,,congress  #b;d ,session  
,s4 #dbbi  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,may #a1       
#bjbd,ms4 ,rosen 7for herself and ,mr4  
,cornyn7 introduced the following bill2 
which was read twice and referred to the
 ,committee on ,finance  ,a ,,bill  ,to 
amend title ,,xviii of the ,social      
,security ,act to require that          
coinsurance for drugs under ,medicare   
part ,d be based on the drug's net price
 and not the drug's list price4  #a4    
,short title ,this ,act may be cited as 
the ,reducing ,drug ,prices for ,seniors
 ,act44  #b4 ,requiring that coinsurance
 for drugs under ,medicare part ,d be   
based on the drug's net price and not   
the drug's list price ,section          
#ahfj;,d-#b of the ,social ,security    
,act 7#db ,u4,s4,c4 #aciew-#ajb7 is     
amended-- 7#a7 in subsection 7b7-- 7,a7 
in paragraph 7#b77;,a71 in the matter   
preceding clause 7i71 by striking and   
7#i7 and inserting 1 7#i71 and 7#aj72   
and  7,b7 by adding at the end the      

following new paragraph3  7#aj7         
,requirement that coinsurance for       
covered part ,d drugs be based on the   
net price of the drug  7,a7 ,in general 
,for plan years beginning on or after   
,january #a1 #bjbe1 for costs above the 
annual deductible specified in paragraph
 7#a7 and below the annual out-of-pocket
 threshold specified in paragraph 7#d71 
any coinsurance amount for a covered    
part ,d drug 7insofar as such covered   
part ,d drug is included on the         
formulary and subject to coinsurance    
rather than a copayment7 shall be       
calculated based on the net price 7and  
not the list price7 of such covered part
 ,d drug if such net price is lower than
 the list price of such covered part ,d 
drug4 ,the preceding sentence shall not 
apply to a covered part ,d drug         
described in paragraph 7#h7 or 7#i74    
7,b7 ,net price defined ,in this        
paragraph1 the term net price means1    
with respect to a covered part ,d drug1 
the negotiated price of the covered part

 ,d drug under the prescription drug    
plan or ,,ma-,,pd plan1 net of any      
manufacturer-provided price concessions 
7as defined under section #dbc4ajj of   
title #db1 ,code of ,federal            
,regulations 7or any successor          
regulation771 as reported for such drug 
in the ,detailed ,,dir ,report 7or any  
successor report7 submitted by the      
sponsor or organization offering the    
plan for the previous plan year4  4     
7#b7 in subsection 7c71 by adding at the
 end the following new paragraph3  7#g7 
,requirement that coinsurance for       
covered part ,d drugs be based on the   
net price of the drug ,the coverage is  
provided in accordance with subsection  
7b77#aj74  4