Drug Price Transparency: Patient Right to Shop for Prescription Costs.
This Act mandates that health plans and insurers cannot hide prescription drug pricing information from consumers. It requires Pharmacy Benefit Managers (PBMs) to provide data to third-party tools, allowing patients to see all costs and potential savings options upfront. This change empowers citizens to compare prices and choose the most affordable way to purchase their medications.
Key points
Health plans must ensure consumer tools have access to comprehensive prescription drug cost data.
Patients will see all costs, including copayments, cash prices, and manufacturer assistance, before filling a prescription.
Contracts that restrict the sharing of drug pricing information with transparency tools are now prohibited.
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