Bill > SB0889

This bill creates the Prescription Drug Cost and Affordability Review Act, which establishes the Prescription Drug Affordability Board and the Prescription Drug Affordability Stakeholder Council. The Board is tasked with identifying prescription drug products that may create affordability challenges and conducting cost and affordability reviews. If the Board determines that a drug's cost has led or will lead to affordability challenges, it may establish an upper payment limit for that drug. The bill also creates the Prescription Drug Affordability Fund to fund the Board and the Department's implementation of the Act. Additionally, the bill requires annual reporting to the legislature on drug price trends and Board activities, as well as studies on generic drug prices and their impact on insurance costs and Medicaid spending.