Bill > H2965

This bill provides a new prescription drug cost reimbursement program for elderly government retirees. Specifically, the bill defines an "elderly governmental retiree" as a retired employee who is 70 years old or older and has been retired for at least 5 years. Under the proposed legislation, retirees in municipalities that provide prescription drug benefits will be entitled to reimbursement from the State Retirees Benefits Trust Fund to help reduce their prescription drug costs. The reimbursement will cover at least 25% of the co-payment amount for prescription drugs. The trustee of the fund will establish the reimbursement methodology in collaboration with participating municipalities. Additionally, the bill requires municipalities providing prescription drug coverage to elderly retirees to participate in the fund using the procedures outlined in the new section 10C of the law. This bill aims to provide financial relief to older government retirees by helping to offset the cost of prescription medications.

Labor and Employment

https://malegislature.gov/Bills/194/H2965