Bill > S2563

This bill, titled the "Prescription Drug Savings and Transparency Act of 2026," mandates that the office of the auditor general conduct an independent and comprehensive study to determine if Rhode Island would benefit from a consolidated prescription drug management program within its Medicaid program, which provides essential health coverage to vulnerable populations and accounts for a significant portion of the state budget. The study will compare Rhode Island's current system, which uses multiple pharmacy benefit managers and preferred drug lists, with alternative models implemented in other states, such as a single statewide preferred drug list or a single state-contracted pharmacy benefit manager, to assess potential cost savings, improved transparency, increased rebate returns to Medicaid, reduced administrative burdens for healthcare providers, and better continuity of care for beneficiaries. To ensure the study is thorough, private entities involved in managing Medicaid prescription drug funds, including pharmacy benefit managers and managed care organizations, are required to provide complete and timely access to all relevant financial and operational data, notwithstanding any confidentiality agreements, with protections in place for sensitive information. The office of the auditor general will retain full authority to analyze this data and will report its findings and recommendations, including any proposed legislative changes, to state leadership by March 31, 2027, with the act taking effect upon its passage.

Health and Social Services

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