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6/24/2021 Senate passes legislation to disclose drug pricing, prohibit annual or lifetime limits on drug benefits
STATE HOUSE — As part of its ongoing efforts to address the cost of prescription drugs, the Senate today passed legislation that will require pharmaceutical companies to disclose drug pricing information and a bill that would prohibit an annual or lifetime dollar limit on drug benefits.

The first bill (2021-S 0494A), which was introduced by Senate President Dominick J. Ruggerio (D-Dist. 4, North Providence, Providence) would require that pharmaceutical manufacturers disclose to the Office of the Health Insurance Commissioner the wholesale acquisition costs of drugs if this cost is at least $100 for a 30-day supply. It would also require the disclosure of pharmacy benefit management information to include rebates, price protection payments and other payments that are saved by the pharmacy, health plan issuer or enrollees at the point of sale of the drug.

“The high price of prescriptions is having a severe impact on Rhode Islanders, particularly older residents,” said President Ruggerio. “Many older Rhode Islanders have limited means, and the high cost of prescriptions means people are cutting back on essentials, or taking less than their prescribed amount of expensive drugs. This legislation would bring an important layer of transparency to the drug-pricing process.”

The second bill (2021-S 0381A), which was introduced by Senate Majority Leader Michael J. McCaffrey (D-Dist. 29, Warwick), would require that health plans that provide prescription drug coverage not include an annual or lifetime dollar limit on drug benefits. It would also cap out-of-pocket expenses that some consumers would be required to pay for prescription drugs

“This bans annual and lifetime limits on drug benefits - a dollar limit on what health plans would spend for your covered benefits during the plan-year or the entire time you were enrolled in that plan,” said Senator McCaffrey. “Prior to the federal Affordable Care Act, some plans required you to pay the cost of care exceeding those limits. This bill codifies into state law these federal protections for drug benefits.”

The measures now move to the House of Representatives for consideration.



For more information, contact:
Daniel Trafford, Publicist
State House Room 20
Providence, RI 02903
(401)222-1922