Bill includes oversight reforms to improve affordability of and access to prescription drugs
BOSTON (12/30/2024)—Today the Massachusetts Legislature passed comprehensive reforms to lower the cost of prescription drugs at the pharmacy counter and improve oversight of the state’s pharmaceutical industry.
S.3012, An Act relative to pharmaceutical access, costs, and transparency, was originally filed in 2019 by Senator Cindy F. Friedman (D-Arlington), and requires health insurers to cover life-saving medications for diabetes, asthma, and certain heart conditions with no or limited out-of-pocket costs for patients. The measure is particularly critical for residents of color, who disproportionately face chronic illnesses.
The bill takes bold action to lower out-of-pocket costs and ensure access to life saving medications by offering immediate price relief for prescription drugs used to treat diabetes, asthma, and certain heart conditions. For each condition, the bill requires insurers to eliminate cost-sharing requirements for one generic drug and to cap co-payments on one brand-name drug at $25 per 30-day supply.
It further brings down consumer costs by ensuring that consumers are not charged a cost-sharing amount, such as a co-pay, if it would be cheaper for them to purchase the drug without using their insurance.
“If you live with a condition that requires prescription medication, you deserve the right to access that drug, without worrying about how expensive it is or whether it will be available,” said Senate President Karen E. Spilka (D-Ashland). “Today’s legislation will lower costs at the pharmacy counter and hold pharmaceutical companies and pharmacy benefit managers accountable—an important step towards making that right a reality for every resident, and especially those who are disproportionately impacted by chronic illness.… Read more.