HB 589 & SB 888-Relating to Prescription Drug Price Transparency
On Monday, May 1st, SB 888, by Senator Aaron Bean (R-Jacksonville) was heard in the Senate Committee on Appropriations, the bills last committee of reference, and unanimously passed by a vote of 17 yeas to 0 nays. AIF’s Senior Vice President of State and Federal Affairs, Brewster Bevis, stood in support of this bill.
On Thursday, May 4th, SB 888, was laid on the table and substituted for HB 589, by Representative Clay Yarborough (R-Jacksonville).
On Friday, May 5th, HB 589, was read for a third time on the Senate floor and passed by a vote of 38 yeas to 0 nays.
Currently, law requires MyFloridaRX.com 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”). The goal of HB 589 is to create more transparency in drug pricing, which in turn will give employers and consumers the ability to make more informed decisions regarding their health care spending. Prescription drug costs continue to rise, and become a larger percentage of the overall health care spend in Florida.
HB 589 will now go to the desk of the Governor.
AIF SUPPORTS transparency in drug pricing as a tool for reducing the cost of health care coverage on Florida’s employers and employees.