Bill > S1390

Introduced Session

This bill requires carriers to pass prescription drug savings on to consumers. The bill provides that all compensation paid by a pharmaceutical manufacturer to a pharmaceutical benefits manager as a result of negotiations of a reduced price for a pharmaceutical between a pharmacy benefits manager and a manufacturer, in relation to a contract between a pharmacy benefits manager and a carrier related to its insured prescription drug benefits, would be remitted to and retained by the carrier. Thereafter, the carrier would be required to use these amounts to lower the premium for covered persons under the carrier's health benefits plan or to allow for remittance directly to the covered person's at the point of sale to reduce the insured's out of pocket costs. In addition, the bill requires each carrier to annually file a report, with the commissioner, demonstrating how the carrier has complied with the provisions of the bill. The provisions of the bill are to apply to plans issued or renewed on or after January 1 of the calendar year after the date of enactment. Under the bill, "compensation" is defined as any direct or indirect financial benefit, but excludes any compensation paid by a manufacturer, developer, or labeler for the performance of services.

Committee Categories

Nellie Pou (D)*,  Troy Singleton (D)*, 

Withdrawn from Consideration (on 02/27/2024)

Official Document