Posted on May 11, 2018 by admin
Bill Addressing Rising Prescription Drug Costs Heads to Governor’s Desk
HARTFORD – State Representatives Whit Betts (R-78) and Cara Pavalock-D’Amato (R-77) praised the unanimous passage of legislation aimed at curbing increasing prices for prescriptions, the fastest growing cost in healthcare. The legislation, HB 5384, An Act Concerning Prescription Drug Costs, seeks to impose additional disclosure and reporting requirements concerning prescription drug rebates and the cost of prescription drugs.
“Prescription drugs can be incredibly expensive, and this important measure will address the issue of their rising costs. My vote in support of this measure reflects my response and commitment to the many constituents I’ve spoken with, who simply cannot afford these large increases,” said Rep. Betts, a co-sponsor of the legislation.
Rep. Pavalock-D’Amato, a member of the legislature’s Insurance and Real Estate Committee, said, “These new requirements will hold pharmaceutical companies accountable to maintain pricing transparency with consumers. For people who rely on long-term maintenance medications, or life-saving treatment medications, and especially for those living on a fixed income, including seniors and the disabled, this bill will go a long way to ensuring the pricing stability that people rely on when managing their healthcare costs.”
This bill makes several changes related to prescription drugs, pharmacy benefit managers (PBMs), and health carriers (e.g., insurers and HMOs). Among other things, it requires:
The bill passed unanimously out of the Senate on Tuesday; it now heads to the governor’s office for signing to become law.