Bill > S2520

This bill aims to improve pharmaceutical access, costs, and transparency in Massachusetts. Key provisions include: - Defining new terms like "biosimilar", "brand name drug", "generic drug", "pharmacy benefit manager", and others to clarify the pharmaceutical landscape. - Requiring pharmaceutical manufacturers to provide early notice to the Health Policy Commission about new drugs, price increases, and other changes to improve transparency. - Establishing a process for the Health Policy Commission to review the pricing of high-cost drugs and work with manufacturers on affordability improvement plans. - Mandating coverage requirements for certain chronic disease drugs and supplies, like diabetes medications and continuous glucose monitors, with limited or no cost-sharing for consumers. - Increasing oversight and regulation of pharmacy benefit managers, including requiring them to be licensed by the Division of Insurance. - Creating a Prescription Drug Cost Assistance Trust Fund to provide financial assistance to residents for the cost of prescription drugs. - Studying the feasibility of a bulk purchasing system for high-cost drugs and the impact of pharmaceutical costs on health insurance premiums and consumer costs.

Budget and Finance

Joint Committee on Health Care Financing (Joint), Senate Committee on Bills in the Third Reading (Senate), Senate Committee on Ways and Means (Senate)

https://malegislature.gov/Bills/193/S2520