Bill > S627

This bill aims to promote healthcare access and affordability for patients by amending Chapter 176O of the General Laws in Massachusetts. The key provisions include: 1. Repealing Sections 131 and 226 of Chapter 139 of the Acts of 2012, which were related to the regulation of co-pay assistance programs. 2. Requiring health insurance carriers to annually certify that they have made available to insured individuals at least 80% of the estimated rebates received from pharmaceutical manufacturers, dispensing pharmacies, or other parties, by reducing the amount of cost-sharing charged at the point of sale. The carriers are not responsible for any differences between the estimated and actual rebate amounts, as long as the estimates were calculated in good faith. 3. Mandating that carriers file annual reports with the Division of Insurance demonstrating their compliance with the rebate pass-through requirement, and allowing the Division to impose fines for non-compliance. 4. Establishing that the rebate and estimated rebate information received by carriers is considered trade secret and confidential commercial information, which cannot be publicly disclosed. 5. Authorizing the Insurance Commissioner to adopt policies, procedures, and regulations necessary to implement these provisions.

Business and Industry, Health and Social Services

https://malegislature.gov/Bills/192/S627