Budget proposes limit on Medicare drug prices

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WASHINGTON (AP) President Donald Trump's budget proposes a hard limit to what Medicare beneficiaries have to pay for prescription medications, an idea with bipartisan support in Congress.

The Medicare prescription drug benefit was enacted more than 15 years ago, before drugs costing $1,000 a pill or more came along.

Right now beneficiaries with high costs face a co-pay of just 5 percent, but that can still amount to thousands of dollars for the most expensive medications.

The actual dollar amount of the cost cap would be determined in conjunction with Congress. One lawmaker's proposal would set the limit at about $2,650.

The cap on cost sharing is part of several changes the budget would make to Medicare's popular "Part D" prescription benefit. It's not clear if all will find support.