Drug Prices and Coverage

What this bill does

Requires prescription drug manufacturer permitholders to annually report to AHCA international drug price data; requires agency to contract with entity to designate reference price source countries & analyze certain data; requires agency to publish annually prescription drug & product reference prices; requires pharmacies to charge cash-paying customers up to reference prices for prescribed drugs & products; requires contracts between pharmacy benefit managers & pharmacy benefits plans & programs to prohibit PBMs from offering & implementing certain formularies; requires health insurers, Medicaid managed care plans, state group insurance programs & HMOs to provide reimbursement for covered prescription drugs & products up to reference prices; requires savings from such reimbursement limits to be used for certain purposes; limits changes that health insurance policies & health maintenance contracts can make relating to prescription drug formularies.