Require Appropriate Coverage of and Cost-sharing for Generic Drugs and Biosimilars
|Sponsor:||Senator Troy Jackson, Senate 35 - York County|
|Bill #:||LD 1706|
UPDATE: Approved for carry over on 6/4/21
This bill requires that formularies for prescription drugs approved for coverage under a health plan contain tiers of generic drugs or biosimilars that are equivalent to the approved branded drugs, and that cost-sharing through coinsurance or a copayment make the cost of the generic drug or biosimilar meaningfully lower than the cost of the equivalent branded drug. A biosimilar is a biological product licensed by the United States Food and Drug Administration that is highly similar to a branded prescription drug.