Support Prescription Drug Transparency

2SSB 5292 requires that the Office of Financial Management be notified within 60 days if the cost of a drug is increased. This bill is a great first step to address rising drug costs. Patients need drugs they can afford--25% percent of people report having difficulty affording medications and one out of eight people say they have rationed doses because of increased costs. 80 percent of Americans support policy that would require drug companies to make public how they set prices.

2SSB5292 states that beginning January 1, 2020, and yearly thereafter:

  • the Health Care Authority must prepare a list of ten prescription drugs that have significant impact on state expenditures and are critical for public health
  • manufacturers must provide price increase justification and other information about those drugs to HCA
  • the HCA must analyze the pricing data and provide annual reports to the Legislature
  • the HCA must notify the Office of Financial Management within 60 days if the cost of a drug is increased.

This bill will be heard in the House Health & Wellness Committee on March 15 at 8:30am.


 

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