SB 888-Relating to Prescription Drug Price Transparency
On Tuesday, March 14th, SB 888, relating to Prescription Drug Transparency, by Senator Aaron Bean (R-Jacksonville) was heard in the Senate Committee on Judiciary and unanimously passed by a vote of 6 yeas to 0 nays. AIF stood in support of this bill.
Prescription drug costs continue to rise, and become a larger percentage of the overall health care spend in Florida. SB 888 creates more transparency in drug pricing, and will give consumers the ability to make more informed decisions regarding their health care spending. Currently, the law requires MyFloridaRX to provide the top 150 most prescribed drugs including their customary prices by pharmacies. This bill would double that number to 300 and codifies monthly reporting to the Agency for Health Care Administration (“AHCA”).
SB 888 will now go to the Senate Appropriations Subcommittee on Health and Human Services for its second hearing.
AIF SUPPORTS transparency in drug pricing as a tool for reducing the cost of health care coverage on Florida’s employers and employees.