Reduce Prescription Drug Costs by Using International Pricing

Last updated: Jun 4, 2021

Details about this bill
Category: Pharmacy Related
Status: Carried Over
Sponsor: Senator Ned Claxton, Senate 20 - Androscoggin County
Session: 130
Bill #: LD 1636

Position:

Monitoring.

UPDATE: Approved for carry over on 6/4/21

Summary:

Senator Claxton of Androscoggin would require the Superintendent of Insurance to create a list of 250 referenced drugs that are subject to a referenced rate. The referenced rate must be calculated as the lowest cost from official publications of certain Canadian provincial government agencies and the wholesale acquisition cost. A state entity, health plan or participating plan qualified under the federal ERISA of 1974 must purchase referenced drugs to be dispensed or delivered to a consumer of this State at a cost equal to or lower than the referenced rate.