Increasing Medication Access for Seniors Act of 2024

This bill requires the Secretary of Health and Human Services to submit annual reports to Congress starting in 2026 about Medicare Part D's "monthly capped cost-sharing option." The reports must track how many seniors use this option (paying a fixed monthly amount instead of variable out-of-pocket costs for prescriptions), estimate how many might benefit but aren't using it, and detail outreach efforts to inform seniors. Key mechanisms include data on enrollment via point-of-sale systems, Medicare.gov, the "Medicare & You" handbook, and 1-800-MEDICARE. The bill does not change the benefit itself but mandates transparency to improve awareness of an existing Medicare Part D option for seniors.