1. Short title This Act may be cited as the True Cost-sharing Of Seniors’ drugs Transparency Act or the COST Act . 2. Prohibiting health insurance issuers, group health plans, Medicare Advantage organizations, and prescription drug plan sponsors from limiting drug price information a pharmacy may give to a consumer (a) Health insurance issuers and group health plans The first subpart II of part A of title XXVII of the Public Health Service Act ( 42 U.S.C. 300gg–11 et seq.) is amended by adding at the end the following new section: 2729. Prohibition on provisions relating to the communication of certain prescription drug price information (a) In general A group health plan and a health insurance issuer offering group or individual health insurance coverage may not, with respect to plan years beginning after the date the Secretary makes a determination specified in subsection (c), prohibit a pharmacy from disclosing, or penalize such pharmacy (including through increased utilization review, reduced payments, or other financial disincentives) for disclosing, to an individual purchasing a prescription drug using benefits provided under such plan or such coverage alternative methods of purchasing such drug, including paying a cash price, that may be cheaper than paying the price of a drug using such benefits. (b) Consumer information (1) In general A group health plan and a health insurance issuer offering group or individual health insurance coverage shall ensure that, in the case that an applicable pharmacy (as defined in paragraph (2)) informs an individual with health benefits under such plan or such coverage of alternative methods of purchasing a drug, including paying a cash price, that may be cheaper than paying the price of a drug using such benefits, such pharmacy also— (A) informs such individual of— (i) the effect so purchasing such drug would have on such individual’s deductible with respect to such plan or such coverage