Revamped bill builds on Senate’s work to reduce prescription drug costs, promote transparency, and increase patient access
BOSTON (11/09/2023) – Today, the Massachusetts Senate unveiled An Act relative to Pharmaceutical Access, Costs and Transparency, otherwise known as the PACT Act 3.0. This comprehensive pharmaceutical cost control legislation is aimed at addressing the rapidly increasing costs of prescription drugs. By connecting the need for greater drug price transparency with policies to improve oversight for the pharmaceutical industry, the PACT Act 3.0 puts the Senate at the forefront of the state’s efforts to tackle rapidly increasing prescription drug costs. It will also reduce drug costs for patients and lower health care costs overall, as well as provide a no-cost sharing option for certain prescription drugs used to treat chronic illnesses that disproportionately affect communities of color and residents with lower income.
“The Senate is deeply committed to continuing its work to advance racial and economic equity, and addressing the burdensome health care costs on communities of color and low-income communities is a key component of this work. That’s why I am so proud that the Senate’s latest version of our prescription drug cost containment legislation directs insurers to offer certain prescription drugs used to treat asthma, heart disease, and diabetes—chronic illnesses that disproportionately affect communities of color and residents with lower income—at a low or no cost to consumers,” state Senate President Karen E. Spilka (D-Ashland). “Residents can’t wait for prescription drug relief, especially when lives are at stake. This is a bill that will take major steps towards addressing affordability for all our residents, along with increasing access to important life-saving medications.… Read more.