Bill > HF294

This bill: - Requires manufacturers to report and maintain prescription drug prices, including the brand name, generic name, wholesale acquisition cost, average wholesale price, and other information for drugs with a wholesale acquisition cost of $100 or more for a 30-day supply. This information must be reported annually to the Commissioner of Health and made publicly available. - Requires health plans to file their prescription drug formularies with the Commissioner of Commerce, who must approve any formulary changes that increase enrollee costs during the plan year, with certain exceptions. - Establishes requirements for health plans to use a real-time prescription benefit tool that provides information to prescribers about a patient's drug coverage, cost-sharing, prior authorization requirements, and available alternatives. - Authorizes the Commissioner of Health to take enforcement action, including civil penalties, against manufacturers that fail to report required information or comply with other provisions of the bill. The bill aims to promote transparency in prescription drug pricing and formulary management in order to assist the state, health plans, and other payers in managing pharmaceutical costs and limiting disruptions to patient access during a coverage year.

Business and Industry, Health and Social Services, Justice

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF0294&ssn=0&y=2023