S. 2770 — Share the Savings with Seniors Act

This section establishes cost-sharing protections for chronic care drugs (i.e., covered Part D drugs in specified United States Pharmacopeia Convention categories and classes such as blood glucose regulators other than insulins, inhaled corticosteroids, bronchodilators, respiratory tract agents, anticoagulants, and other cardiovascular agents, or successors thereto) under Medicare Part D prescription drug plans and Medicare Advantage prescription drug plans for plan years beginning on or after January 1, 2027. For such drugs, it limits cost-sharing below the annual deductible to the net price of the drug (i.e., negotiated price net of manufacturer price concessions not already reflected therein) and requires any coinsurance between the deductible and out-of-pocket threshold to be based on a percentage of the net price, except for plans using a copayment not tied to drug price, benchmark price, or drug cost. (Thus, these limits apply to coverage determinations under both standard and alternative coverage gap designs.) The section also conforms these protections to low-income subsidy copayments, capping them at the applicable plan cost-sharing amount for plan year 2027 and subsequent years, and requires the Secretary of Health and Human Services to implement via interim final regulations.