New Legislation Could Save You Money on Prescriptions in Massachusetts
Under new legislation passed by the Massachusetts House and Senate, people who use prescription drugs to treat some chronic illnesses could soon be saving money. The legislation would make certain name-brand prescriptions $25, generic brands would be free. The bill requires health insurers offering individual or group health maintenance policies in Massachusetts, including MassHealth, to limit out-of-pocket costs for medications used to treat diabetes, asthma, and the two most prevalent heart conditions.
AARP is urging Governor Maura Healey to sign the bill. In an unexpected move, the Massachusetts House and Senate passed the bill on Monday, the second to last day of the session. Both chambers have been in informal sessions since August.
"An Act Relative to Pharmaceutical Access, Costs, and Transparency," aims to address the growing need for affordable prescription drugs in Massachusetts.
A key provision in the bill is licensing Pharmacy Benefit Managers (PBMs). The legislation would prohibit PBMs from paying a pharmacy benefit consultant or broker if it's a conflict of interest.
In a letter thanking legislators, AARP praised the bill.Read the letter here.
“This legislation will ensure our residents have access to affordable prescription drugs that keep them healthy and living with dignity. AARP has worked for years to advance legislation like this that will help people save money,” said Jen Benson, AARP Massachusetts State Director. “This will increase transparency and accountability in the prescription drug supply chain, which will help other efforts to lower costs for consumers and taxpayers”
Under the legislation, pharmacists will also be allowed to inform customers when a drug is cheaper without insurance, and the bill prohibits gag clauses that prevent pharmacists from sharing this information. These provisions are designed to enhance consumer choice and reduce unnecessary costs.
If signed into law, the new price structure for drugs used to treat diabetes, asthma and heart conditions would go into effect on July 1.
