Drug Discount Card Simplification Act of 2004 - Amends title XVIII (Medicare) of the Social Security Act, as amended by the Medicare Prescription Drug, Improvement, and Modernization Act of 2003, to require the Secretary, on and after January 1, 2005, to limit to not more than three the number of prescription drug card sponsors in a State.
Provides that on and after January 1, 2005: (1) the negotiated price of each covered discount card drug dispensed to an individual enrolled in an endorsed discount card program may not exceed the negotiated price of that drug under such program as of December 31, 2004; and (2) each prescription drug card sponsor shall ensure that the price paid by pharmacies participating in its network for each covered discount card drug dispensed to an individual enrolled in an endorsed discount card program offered by such sponsor does not exceed the price paid by those pharmacies for each such drug as of December 31, 2004.
Requires sponsors that offer an endorsed discount card program to provide each discount card eligible individual enrolled in the program with access to negotiated prices for each covered discount card drug for which a negotiated price was available under such program as of December 31, 2004.