Bill > S2492

This bill aims to bring down the cost of prescription drugs in Massachusetts. Key provisions include: - Establishing a drug access program to enhance access to certain high-value generic and brand-name drugs used to treat chronic conditions like diabetes, asthma, and heart disease. This program will be administered by the executive office of health and human services. - Defining key terms like "brand name drug," "generic drug," "pharmacy benefit manager," and "wholesale acquisition cost" to provide clarity. - Increasing transparency around pharmaceutical manufacturing companies and pharmacy benefit managers by requiring them to report information on pricing, rebates, discounts, and other factors to state agencies like the Health Policy Commission and Center for Health Information and Analysis. - Authorizing the Health Policy Commission to review the pricing of certain high-cost prescription drugs and require manufacturers to implement "access and affordability improvement plans" if their pricing substantially exceeds the Commission's proposed value. - Establishing a penalty on pharmaceutical manufacturers for excessive price increases and creating a Prescription Drug Cost Assistance Trust Fund to provide financial assistance to state residents for prescription drug costs. - Capping patient cost-sharing (copayments, coinsurance, deductibles) for certain generic and brand-name drugs, as well as insulin. - Regulating pharmacy benefit managers, including requiring them to be licensed, prohibiting certain practices like "spread pricing," and mandating audits and transparency around rebates and fees. The bill aims to improve prescription drug affordability and access for Massachusetts residents, particularly for those with chronic health conditions.

Budget and Finance

Joint Committee on Health Care Financing (Joint)

https://malegislature.gov/Bills/193/S2492