HB 589-Relating to Prescription Drug Price Transparency
On Thursday, March 16th, HB 589, relating to Prescription Drug Price Transparency, by Representative Clay Yarborough (R-Jacksonville) was heard in the House Health & Human Services Committee and passed. AIF’s Senior Vice President of State and Federal Affairs, Brewster Bevis, 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. HB 589 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”).
HB 589 will now go to the House floor to be heard.
AIF SUPPORTS transparency in drug pricing as a tool for reducing the cost of health care coverage on Florida’s employers and employees.