Senate Republican Leader Tom Kean’s legislation to limit out-of-pocket prescription costs has passed the New Jersey Senate.
Sen. Tom Kean’s legislation to limit out-of-pocket prescription costs has passed the Senate. (Wikimedia Commons)
“The treatment costs for patients battling cancer and other chronic diseases adds up, often placing a heavy financial burden on families and loved ones,” said Kean (R-21). “Lifesaving prescriptions can cost thousands of dollars a month or more. Many other states have succeeded in limiting exorbitant fees for critical prescriptions. This legislation will make prescription co-payments more affordable, helping patients avoid financial distress during an already turbulent time.”
Kean’s bill, S-1865, would require health insurers to limit out-of-pocket costs to $200 per prescription under the Affordable Care Act’s Bronze Level Plan, and $100 per prescription for all other insured plans.