Bill > H8172

This bill, titled the "Prescription Drug Savings and Transparency Act of 2026," mandates that the office of the auditor general conduct a 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 involves multiple pharmacy benefit managers and preferred drug lists, with alternative models used in other states, such as a single statewide preferred drug list or a single state-contracted pharmacy benefit manager, to assess potential cost savings, increased transparency in drug pricing and manufacturer rebates, improved administrative efficiency, and better continuity of care for beneficiaries. To ensure the study is thorough, any private entity involved in managing or receiving funds related to Medicaid prescription drug benefits must provide complete and timely access to relevant information, including claims data, rebates, contracts, and formulary details, notwithstanding any confidentiality agreements, with protections in place for sensitive commercial information. The office of the auditor general will then report its findings and recommendations, including any proposed legislative changes, to state legislative leaders by March 31, 2027, and the act will become effective upon its passage.

Budget and Finance

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