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Prescription Drugs
Status
Signed Into Law
An Act relative to pharmaceutical access, costs, and transparency
This legislation would make urgent and much-needed reforms to the pharmaceutical system in the state by lowering the cost of drugs at the pharmacy counter and improving oversight of the pharmaceutical industry.
Highlights
- Lowers the cost of medications that treat diabetes, asthma, and chronic heart conditions. Insurers are required to eliminate deductibles and cost-sharing requirements for one generic drug and to cap co-payments on one brandname drug at $25 per 30-day supply.
- Increases oversight of pharmacy benefit managers (PBMs), which play a major role in etermining how prescription drugs are tiered and priced on insurance plans. This legislation also requires PBMs to be licensed by the division of insurance.
- Empowers the Center for Health Information and Analysis (CHIA) to collect data related to drug costs.
- Includes pharmaceutical companies and pharmacy benefit managers in the Health Policy Commission (HPC)’s Annual Health Care Cost Trends Hearings.
- Establishes the Office for Pharmaceutical Policy and Analysis, tasked with analyzing trends related to pharmaceutical access, affordability and spending in Massachusetts.
"Five years after I first introduced this legislation, the Massachusetts Legislature has now taken a strong step towards reining in prescription drug prices while enhancing transparency and oversight within the pharmaceutical industry. Massachusetts often serves as a national leader, providing groundbreaking health care services and fostering innovative breakthroughs for our biotech and life sciences sector, but everyday residents of our Commonwealth are being priced out of essential and life-saving medications. This bill begins to meet the urgency of this challenge by eliminating cost-sharing for generic drugs and capping out-of-pocket costs for brand name drugs used to treat diabetes, asthma, and certain heart conditions."
- Senator Cindy F. Friedman (D-Arlington)
- Senator Cindy F. Friedman (D-Arlington)
