Fair Prescription Pricing Act of 2026

The Fair Prescription Pricing Act of 2026 would cap the out-of-pocket costs that individuals pay for prescription drugs by limiting deductibles, copayments, and coinsurance to no more than the nationwide average consumer price for that specific medication. This provision applies to both group health plans and individual health insurance policies, ensuring that patients using in-network pharmacies do not face charges higher than the standard market rate. The bill requires pharmacy benefit managers to adhere to these same cost-sharing limits as the insurance providers themselves. These restrictions would be implemented across federal laws governing public health services, employee retirement income security, and internal revenue codes to ensure consistent enforcement for plan years beginning after the act's enactment.